Yzi Labs dey back Ethena USDe growth as ENA dey fall
Yzi Labs, di venture arm wey belong to Binance founder Changpeng Zhao, don renew an deep dem investment for Ethena make e fit accelerate di use of di synthetic stablecoin USDe. Since February wey dem launch am publicly, USDe supply don pass $13 billion and Ethena TVL don climb reach $14.22 billion. Di new funding go back USDe expansion for BNB Chain, improve integration with trading platforms and DeFi protocols, plus support development of USDtb, one US GENIUS Act–compliant fiat-backed stablecoin, and Converge, one 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 dey aim to capture bigger part of di projected $2 trillion stablecoin market by 2028. Meanwhile, Ethena own token ENA don drop 8.5% in 24 hours and 35% over two weeks, e dey trade near key support at $0.85. Traders go dey watch for any catalyst wey fit reverse di downtrend for ENA.
Bearish
Despite strong USDe adoption—supply don top $14 billion, TVL dey for $14.22 billion, Q3 returns reach $9.25 million plus institutional backing—Ethena’s ENA token don fall 8.5% inside 24 hours and 35% over two weeks, e never fit break $0.85 resistance and e dey trade near key support. This slump dey show say sentiment bad and e fit cause to sell more for short term, e strong pass any good fundamentals till clear catalysts show.