Tue, May 07, 2024 at 22:05

• 

  Joy

  • Hey Annie!

  • Have you heard about the latest buzz in the crypto world?

  • Ethena Labs' stablecoin, USDe, is getting a major boost!

  • Guess what?

  • It's being integrated by Bybit, the third largest crypto exchange in terms of trading volume.🚀

  • 
• Annie

  • Oh really?😮 That's interesting!

  • But wait, what exactly is a stablecoin again?

  
• 

  Joy

  • Good question, Annie!

  • A stablecoin is a type of cryptocurrency that's pegged to a stable asset, like the US dollar.

  • This means its value doesn't fluctuate as much as other cryptos.

  • USDe is Ethena Labs' version of a stablecoin.

  • It's like a synthetic dollar that maintains its USD peg with ETH and BTC backing.💵

• Annie

  • Ah, I see!

  • So, how will this integration work?

  • What does it mean for Bybit users?

  
• ADward

  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Well, starting from this week, USDe will be used on Bybit in several ways.

  • First off, it'll be used as collateral for trading perpetual futures.

  • This means users can potentially earn a yield paid by Bybit on their USD-pegged collateral while trading their favorite tokens like BTC, ETH, SOL and ENA.📈

• Annie

  • That sounds cool!😎 Anything else?

  
• 

  Joy

  • Absolutely!

  • There will also be BTC and ETH USDe zero-fee spot pairs.

  • Plus, USDe will be launched within the Bybit's Earn platform.

  • It's a pretty big deal, Annie!🎉

• Annie

  • Wow, that does sound like a big deal!

  • But how has this news affected the price of ENA, the governance token of the Ethena blockchain?

  
• 

  Joy

  • Well, since the announcement this morning, ENA has fallen 2.8%, currently trading for $0.954.

  • 

  • However, don't be too disappointed!

  • It's still up 9% in the last 24 hours.

  • So, it's not all bad news!😅

• Annie

  • Hmm...I see.🤔 So, would you say this is good news or bad news for the market?

  
• 

  Joy

  • Definitely good news, Annie!

  • The integration of USDe into Bybit is a significant step for Ethena Labs and it could potentially attract more users to the platform.

  • Plus, it offers more options for traders on Bybit.

  • So, I'd say it's a win-win situation!🥳

  • To sum up, this article is considered a 😍Bullish for investors!!