Yzi Labs Backs Ethena’s USDe Growth While ENA Slumps

Published: 2025-09-23 00:34:02 |

Yzi Labs, the venture arm of Binance founder Changpeng Zhao, has renewed and deepened its investment in Ethena to accelerate adoption of the synthetic stablecoin USDe. Since its February public launch, USDe supply has topped $13 billion and Ethena’s TVL has climbed to $14.22 billion. The new funding will back USDe’s expansion on BNB Chain, enhance integrations with trading platforms and DeFi protocols, and support development of USDtb, a U.S. GENIUS Act–compliant fiat-backed stablecoin, and Converge, an EVM-compatible settlement layer for tokenized real-world assets. With Q3 returns of $9.25 million and backing from Fidelity, Franklin Templeton and DragonFly Ventures, Ethena aims to capture a larger share of the projected $2 trillion stablecoin market by 2028. Meanwhile, Ethena’s native token ENA has fallen 8.5% in 24 hours and 35% over two weeks, trading near key support at $0.85. Traders will watch for catalysts to reverse this downtrend in ENA.

Bearish

Despite strong USDe adoption—supply topping $14 billion, TVL at $14.22 billion, Q3 returns of $9.25 million and institutional backing—Ethena’s ENA token has fallen 8.5% in 24 hours and 35% over two weeks, failing to break the $0.85 resistance and trading near key support. This slump signals negative sentiment and potential selling pressure in the short term, outweighing bullish fundamentals until clear catalysts emerge.