The cryptocurrency sector continues to attract the attention of institutional investors, with ambitious projects seeking to push the limits of decentralized finance (DEFI). Ethena, a major player in this ecosystem, has raised $ 100 million to strengthen its position and facilitate the adoption of its solutions by traditional financial institutions.
Ethena: a crypto project in full ascent
The Crypto Ethena project has succeeded a fundraising of $ 100 million In order to finance its expansion and strengthen its presence in the traditional finance sector. This funding was carried out through a private sale of Tokens ENA, attracting renowned institutional investors, such as Franklin Templeton and F-Prime Capital, a firm affiliated with Fidelity Investments.
👉 What is Ethena (ENA)?
Ethena is already well established in the crypto ecosystem thanks to its innovative stable, the USDE. Designed as a “synthetic dollar”, It is distinguished by attractive yieldsreaching 60 %at times, and a capitalization that approaches $ 6 billion.
The growing interest in this stablecoin is based on a method of optimizing yields called “Basis Trade”, operating price differences between the cash market and the term markets.
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A strategy oriented towards institutional finance
With this new fundraising, Ethena aims to Develop a product adapted to regulated financial institutions, Iusde. This version of its stablecoin will integrate restrictions on transfers in order to align with the requirements of institutional actors.
The goal is to facilitate adoption by large banks and investment funds By providing them with simplified access to attractive yields without forcing them to use traditional crypto infrastructure.
Moreover, The raised funds will also be used for the development of a blockchain specific to Ethena. This initiative aims to strengthen project autonomy and optimize the user experience in terms of safety and efficiency.
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This rise in power of Ethena shows the rapid evolution of the crypto sector, with initiatives which are getting closer and closer to the standards of traditional finance. However, price volatility and risks linked to return strategies employed by Ethena remain vigilance points for investors.
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Source : Bloomberg
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Maxime discovered the world of finance and very young investment before launching from the age of 18 years. His passion for financial assets and new opportunities offers him a good vision of the current economy as well as emerging trends.
Maxime Montlet
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