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Ethena (ENA)

Ethena and TON Foundation Partner to Launch USDe Stablecoin Across Telegram Wallets

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  • Ethena’s USDe and tsUSDe are now integrated natively across the TON blockchain ecosystem.
  • Telegram’s 1B+ users can access tsUSDe directly via Wallet in Telegram and TON Space wallet.
  • tsUSDe holders can earn 10% APY in TON plus rewards on up to 10,000 tsUSDe per wallet.

Ethena Labs and the TON Foundation have partnered to introduce Ethena stablecoin products, USDe and the staked variant tsUSDe, on the Open Network (TON). Integrating into Telegram aims to enhance access to decentralized finance (DeFi) with access to stablecoin-based dollar savings for over one billion users.

The launch supports native access to tsUSDe through Telegram wallets, providing a reward-bearing sUSDe version for TON users within the app’s wallet integration. Users access tsUSDe on Telegram’s custodial Wallet and the non-custodial TON Space wallet. 

Additional support through Tonkeeper, Tonhub, and MyTonWallet gives users access to tsUSDe functions. Telegram users can find wallet features through the application interface on mobile devices and desktop computers.

TON Ecosystem Welcomes tsUSDe for Broad DeFi Utility

USDe and tsUSDe are officially deployed on TON, allowing users to utilize the stablecoins throughout the blockchain’s DeFi infrastructure. Users can use these assets for decentralized lending activities, savings platforms, and other blockchain-based applications. USDe bridges from Ethereum to TON through the LayerZero interoperability protocol, while tsUSDe operates as a native TON-based smart contract asset.

Users who maintain tsUSDe in supported wallets will receive an annual percentage yield (APY) of 10% paid in TON alongside Ethena rewards for balances up to 10,000 tsUSDe. The incentive system is designed to attract first users and improve on-chain activity on TON’s financial ecosystem. The TON Foundation partnership intend to launch new reward systems to boost the APY capabilities of DeFi platforms operating on TON.

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Source: X

Long-Term Collaboration Targets Neobanking and Payment Integration

Ethena and the TON Foundation partnership mark the start of an extended collaboration between the two sides. Future initiatives may include developing neo banking services, peer-to-peer payment features and interfaces for DeFi lending and trading, all powered by Ethena’s stablecoin infrastructure.

Ethena is expected to unlock new use cases across Telegram’s platform and DeFi ecosystem. The team is also working on a tsUSDe-linked debit card, with the card provider still awaiting approval. However, users could spend their US dollars, with support for services like Apple Pay expected later this year.

With Tether’s USDT currently dominating TON’s stablecoin activity at nearly $900 million, Ethena’s USDe, with a $4.6 billion market cap, enters the ecosystem as a major alternative. The official launch of tsUSDe is expected in the coming weeks, and further updates will be provided by Ethena and TON Foundation.

Ethena and Securitize Set Q2 2025 Launch for Converge Blockchain, Merging DeFi and Finance

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  • Converge blockchain, which is set to launch in Q2 2025, combines DeFi with institutional finance.
  • Ethena’s USDe and USDtb stablecoins will power gas fees on the Converge network.
  • Converge leverages Arbitrum and Celestia for high performance and low latency.

Ethena and Securitize revealed their upcoming launch of Converge blockchain, which will bridge traditional finance and decentralized finance (DeFi). The mainnet launch of Converge is scheduled to occur by the end of Q2 2025 and will support permissionless DeFi applications and permissioned institutional products. 

The combination of Arbitrum with Celestia’s data availability network enables Converge to execute transactions fast and process data efficiently.

Converge’s innovation is enabled through its connection to Ethena’s USDe and USDtb stablecoins for paying gas fees, thereby reducing payment volatility while streamlining accounting procedures. The platform has been designed to attract major institutional players in DeFi through its secure and efficient features.

Technological Framework and Security

Converge blockchain will maximize its transaction speed while minimizing latency and associated costs by implementing Arbitrum sequencer technology. The incorporation of Celestia’s data availability layer into Converge enables the network to manage large volumes of data without excessive storage expenses. Arbitrum and Celestia working together will extend the boundaries of transaction performance available on Ethereum-compatible networks.

The Converge Validator Network (CVN) will ensure the security of the blockchain by acting as a governance council. Participating validators in the CVN must deposit their Ethena ENA tokens as stake while using these tokens for network governance. 

The CVN will allow activities to be paused in emergencies or for major proposals, which ensures the network remains secure and compliant with regulatory requirements. The inclusion of this security measure sets Converge apart as a platform suitable for institutional use.

Connecting DeFi and Traditional Finance

The integration of real-world assets (RWA) with DeFi represents a fundamental growth step for the financial sector. Ethena leads the DeFi sector through USDe synthetic dollar, which holds $5 billion in assets, while Securitize continues to provide tokenization services to major institutions, including BlackRock and Apollo.

The integration of Ethena’s and Securitize’s infrastructure enables Converge to create a smooth connection between institutional funding and decentralized financial protocols. The blockchain platform will let institutional issuers and individual developers deploy various financial applications, thus becoming a multi-purpose platform for crypto use cases.

Ethena’s Technical Signals and Market Activity Suggest Rebound on the Horizon

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  • Ethena’s 4.96% price increase in 24 hours signals potential upward momentum.
  • A buy signal from the TD Sequential indicator points to a possible bullish trend.
  • Large ENA token transfers and an unlock event suggest growing institutional interest.
  • Despite volatility, Ethena’s market activity and technical signals hint at a rebound.

Ethena (ENA), a promising cryptocurrency, is showing early signs of a rebound after a period of market turbulence that saw its price drop to a recent low of $0.33. Over the past week, the price of ENA has dipped by nearly 10%, closely mirroring the broader market’s volatility. However, recent developments suggest that ENA may be gearing up for a recovery as key technical indicators and market data indicate potential upward momentum.

Ethena (ENA) Shows Signs of Rebound

Currently, the price of Ethena stands at $0.371524, with a 24-hour trading volume of $1.61 billion and a market capitalization of $1.13 billion. The cryptocurrency has seen a 4.96% increase in value over the past 24 hours, signaling a potential shift in market sentiment as ENA moves toward recovery.

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Ethena’s Technical Signals and Market Activity Suggest Rebound on the Horizon 5

This price increase could indicate that the recent downturn may be short-lived, and investors may be eyeing Ethena as a strong buy opportunity in the near future. Crypto expert Ali Martinez has highlighted a promising technical signal for Ethena. According to Martinez, the TD Sequential indicator on the weekly chart is flashing a buy signal, suggesting that ENA could be primed for a rebound.

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Ethena’s Technical Signals and Market Activity Suggest Rebound on the Horizon 6

This indicator, widely used to predict potential price shifts, is often considered a reliable tool for identifying bullish trends in the market. The appearance of this buy signal has generated interest among traders and analysts alike, with many speculating that the recovery phase could be underway for Ethena.

Ethena Unlock Event and Large Transactions Impacting ENA Price

In addition to technical analysis, recent data from Lookonchain has revealed significant market activity surrounding ENA. Over the past 18 hours, Ethena Labs’ multi-signature wallet transferred a substantial 94.16 million ENA, valued at approximately $33.7 million, to 33 different addresses. This transfer is likely part of a larger token unlock event that saw 2.07 billion ENA ($741 million), representing 39.17% of the circulating supply, released this week.

This massive unlock event could have an impact on the price of ENA, as large transactions can create short-term price fluctuations. Of the transferred tokens, 59.3 million ENA, worth $21.08 million, has been sold on decentralized exchanges (DEXs) or sent to Binance at an average price of $0.355. Some notable recipients of these ENA tokens include OKX Ventures, which received 17.87 million ENA, and Curve’s founder, Michael Egorov, who was allocated 2.8 million ENA.

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Ethena’s Technical Signals and Market Activity Suggest Rebound on the Horizon 7

Both OKX Ventures and Michael Egorov have deposited their ENA holdings to Binance, further highlighting the growing institutional interest in Ethena. Despite these large transactions, Ethena’s multi-signature wallet still holds a staggering 1.22 billion ENA, worth approximately $433 million, suggesting that further distribution of tokens may occur in the coming days.

As Ethena (ENA) continues to navigate through market volatility, it is clear that the project is generating significant interest from both institutional and retail investors. The combination of bullish technical indicators, large-scale token transfers, and increased market activity points to a potential recovery for ENA in the near future.

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