Ethena Labs Unveils $USDtb Stablecoin Backed by BlackRock’s BUIDL, $ENA Token Gains Traction

Ethena Labs has unveiled its latest product, $USDtb, a stablecoin backed by BlackRock's BUIDL. Designed to maintain a 1:1 peg, each $USDtb token is supported by cash or cash-equivalent reserves, ensuring its stability.

Ethena Labs has unveiled its latest product, $USDtb, a stablecoin that is backed by cash or cash-equivalent reserves and designed to maintain a 1:1 peg with the US dollar. Backed by BlackRock’s BUI DL, each $USDtb token is fully supported by cash or cash-equivalent reserves. This structure enables $USDtb to scale efficiently, as BUI DL, the primary reserve asset, constitutes 90% of the total reserves.

Powered by LayerZero, $USDtb can be effortlessly transferred across multiple supported networks thanks to its cross-chain capabilities. In addition to the Ethereum mainnet, $USDtb will also be available on Base, Solana, and Arbitrum. Stargate’s bridging capabilities will further enhance $USDtb’s interoperability across chains.

A new address recently opened a position of 3.29 million $ENA, valued at approximately $3.75 million, highlighting the increasing interest in the token. Notably, Trump World Liberty recently acquired $ENA tokens as part of its efforts to join the Web3 space.

Moreover, recent business data reveals new highs, showcasing strong performance and driving investor confidence in the token. This news comes as no surprise, given $ENA’s impressive gains of 24% in the past week.

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