📊ENA 6-Month High: Etna Up 21% in One Day

Etna (ENA) price surged 21% in one day to hit a six-month high of $0.5885. Trading volume pushed its monthly gain to over 113% and its market cap to around $3.6 billion, placing it among the top 32 cryptocurrencies. The surge came after StablecoinX Inc. raised $360 million in funding to acquire ENA tokens and plans to list on Nasdaq under the ticker symbol “USDE.”

Etna is a stablecoin issuer and asset management protocol on the Ethereum blockchain. Its primary product, USDe, is a synthetic dollar that maintains stability through cryptocurrency assets and derivatives rather than traditional bank reserves. Recently, Anchorage Digital partnered with Etna to launch USDtb in the United States, making it the first stablecoin with a clear path to GENIUS compliance.

🦧 Crypto Maniac | Web3 | 👾 Exploring the world of Metaverse and Blockchain.  
🧑‍💻 Emerging and high-potential projects.  
Let’s discover new things together

Etna faces challenges in European markets due to the MiCA regulatory framework, which led to its withdrawal from Germany after disputes with BaFin. However, the synthetic dollar method is still accepted by major cryptocurrency protocols. Ledger has integrated the USDe stablecoin, allowing users to manage their digital dollar positions. The TON blockchain network also offers USDe integration with attractive returns of up to 19% APY. In addition, Bybit now offers USDe trading with fee-free conversion to USDT and USDC, offering monetization opportunities with an APR of 10%.