Grayscale has launched the Bitcoin Adopters ETF, which tracks companies with a corporate Bitcoin treasury strategy. 

Daily top performer — Curve Finance (CRV)

The S&P 500 rose 0.15% as investors shrugged off recession fears and reacted positively to strong tech earnings, with focus now shifting to upcoming Apple and Amazon results. Gold dropped to $3,245 on US-China trade optimism and a stronger dollar, with Fed rate cut hopes cushioning losses. The Coindesk Indices, which tracks the broader crypto market, fell 0.51%, with Bitcoin and Ether down 1.24% and 0.86%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is CRV, which surged 11.4% after Spark's integration of new Curve pools, enhancing stablecoin liquidity and improving DeFi infrastructure.

Curve Finance (CRV), launched in 2020, is a DEX on Ethereum for low-fee swaps between stablecoins and similar assets, with yield-earning pools and DAO governance via the CRV token. Spark has 

 sUSDS/USDT and USDC/USDT Curve pools to its Spark Liquidity Layer (SLL), boosting stablecoin liquidity, enabling easier swaps, and supporting future direct USDT deposits and withdrawals via Spark Savings.

Check out the latest prices, charts, and data of 

 the Bitcoin Adopters ETF, which tracks companies with a corporate Bitcoin treasury strategy. The ETF includes firms like Tesla, Blockstream, and MARA. It reflects the growing trend of companies acquiring Bitcoin as a hedge against inflation. Grayscale's fund aims to provide exposure to companies in sectors like mining, automotive, and energy. Institutional BTC adoption, including Michael Saylor's Strategy, is driving Bitcoin's scarcity, which may lead to a supply crunch and rising Bitcoin prices in the future.

Yesterday, BTC spot ETFs saw $323.3M in outflows, with $32M from GBTC and $291.3M from other ETFs.

 its largest Galxe points event, running from May 4–8, 2025, where users can complete tasks to earn points. They also introduced the AlphaWave competition, a 7-day AI trading contest featuring 25 crypto agents. Users can vote for the agent they think will win to earn rewards and complete Galxe quests. New tasks will be added throughout the week.

Beginner

3.png

Grayscale launches Bitcoin Adopters ETF, tracking companies with BTC treasury strategies

Discover how USDY, a yield-bearing stablecoin from Ondo Finance, offers secure, regulated returns backed by US Treasuries across multiple blockchains.

, which are crypto assets pegged to a major fiat asset, have gained tremendous popularity and are helping investors deal with the typical volatility of the market. For many years, stablecoin cryptocurrencies have been used for payments, principal value storage, B2B transactions and more. However, traditional stablecoins have always lacked the ability to generate yield. These assets are fixed at a certain rate (e.g., $1) and, due to inflation, they don’t protect against your funds’ value erosion. 

 have started to gain traction over the past several years. These "new generation" stablecoins, unlike their traditional counterparts, not only provide rate stability but also generate yields, growing your investment over time. One of the leading assets among yield-bearing stablecoins is US Dollar Yield (USDY), issued by Ondo USDY LLC, part of 

Backed by low-risk traditional finance (TradFi) reserves, USDY generates yields and is a fully composable asset that can be used throughout the DeFi ecosystems of multiple blockchains. The reserves and issuance of the stablecoin are also subject to high regulatory controls. In the world of yield-bearing stablecoins, USDY is among the top choices in terms of popularity, regulation and security.

What is the Ondo US Dollar Yield (USDY) Token?

 (USDY) is a yield-bearing stablecoin offered by Ondo USDY LLC, part of the Ondo Finance DeFi solutions provider. 

USDY’s value tracks that of the US dollar, and it’s backed by Treasury bills and demand deposit reserves. The coin issuer’s parent company, Ondo Finance, specializes in institutional-grade crypto solutions. Ondo aims to make on-chain institutional-grade finance tools and infrastructure accessible to anyone.

USDY was launched in August 2023. As of April 2025, the stablecoin has become available on 

 — a level of multichain coverage that few other stablecoins can match.

While USDY’s price tracks the US dollar’s, its rate is typically somewhat higher than $1 because yields earned by each unit of the stablecoin are added to it, increasing its nominal value.

 (RWAs), primarily Treasury bills, although some portion of the reserves may also be represented by bank demand deposits. Both of these financial asset types are considered cash equivalents.

To ensure the Ondo ecosystem's security, Ondo backs each $100 equivalent of USDY with reserves worth $104, maintaining a 4% overcollateralization rate at all times.

Ondo Finance takes the transparency of USDY seriously. The company has established a bankruptcy-remote mechanism, with a separate corporate entity controlling the issuance and oversight of the stablecoin in various ways, including a board of directors with an independent director, and segregation of assets and reporting from Ondo.

USDY is a fully composable asset that can be used in the DeFi ecosystems of its host blockchains for various purposes, such as collateral, 

USDY provides several significant benefits for its holders. First, it allows eligible individual and institutional investors to earn dollar-denominated yield. This is in contrast to traditional stablecoins, which provide no yield opportunities at all. While other yield-bearing stablecoins also generate returns for holders, some of these pay the yields in volatile cryptocurrencies, rather than high-quality assets.

Thanks to its dollar peg, USDY offers both yield and relative stability. Additionally, it’s fully composable, creating opportunities for use across various DeFi protocols. USDY is available on seven blockchains, providing access to more DeFi opportunities than most yield-bearing stablecoins.

The coin may also be used for passive holding, growing in value over time as yields accrue. In this capacity, USDY represents a good low-risk, on-chain investment opportunity.

Finally, USDY’s overcollateralization and backing by high-quality TradFi assets, Treasury bills and demand deposits make it one of the most secure yield-bearing stablecoins on the market.

How does Ondo US Dollar Yield (USDY) work?

Individuals and institutional entities need to undergo an onboarding process to acquire USDY, during which they submit relevant identity, legal and tax documents. Ondo diligently applies 

 (AML) checks in order to adhere to US securities laws, the Investment Company Act of 1940 and other relevant regulations.

US and UK residents cannot apply to buy USDY, although you may be eligible if you’re a US or UK citizen and reside abroad.

If your application is approved, you can be issued USDY 40 to 50 days after your initial deposit date, although you’ll start earning yield from the first day of your investment. The minimum amount for investment or redemption is $500. You can buy USDY from Ondo using the 

 stablecoin. US dollar wire transfers are also supported for amounts over $100,000.

Redemptions are only transferred in US dollars to bank accounts outside the US. You can redeem your USDY investment at any time, and the typical timeline to receive your funds is about 2–3 business days from the date of your request.

USDY accrues yield daily. The stablecoin’s yields are structured not to incur any US federal tax obligations. Ondo doesn’t charge any performance or management fees for USDY yields. However, the company earns income from a portion of yields generated by the underlying assets backing USDY.

As noted earlier, USDY’s yields accrue to each unit of the token. Therefore, the value of one USDY is usually above $1. For instance, the average value of USDY as of the time of this writing (Apr 30, 2025) is $1.11.

For investors who prefer a fixed $1 rate for the stablecoin, Ondo offers the rebasing version, called rUSDY. Yields for rUSDY are paid to your wallet in the form of additional tokens by increasing the supply of the crypto, while the principal remains at (or very close to) $1. This is known as rebasing. USDY and rUSDY are freely convertible between each other.

The rebased version of the coin might be useful to those who need to ensure rate stability (for example, for B2B payments of agreed-upon contractual amounts) while also earning yields from their investments.

 as a swap pair with the USDT stablecoin.

USDY boasts numerous benefits for investors — low-risk yields from high-quality traditional assets, wide multichain coverage, regulatory compliance, transparency, composability and rate stability. The combination of all these benefits is quite rare in the crypto market, and the investor community is definitely taking note: USDY is already the third-highest-ranked yield-bearing stablecoin by market cap as of late April 2025. 

Since the yield-bearing stablecoin niche is expanding, the advantages of the USDY are likely to attract further interest, both among the institutional crowd and with individuals keen to access high-quality, institutional-grade crypto products.

Intermediate

Ondo US Dollar Yield, USDY.png

What is Ondo US Dollar Yield (USDY) and how does it work?

Discover the 7 top Sui meme coins in 2025, from MIU to HIPPO, as they gain traction with fast growth, strong communities, and unique use cases.

 blockchains, have continued to rally as investors make bold moves with renewed risk appetites. As a 

 blockchain, Sui has continued to attract crypto enthusiasts — especially meme coin lovers, who appreciate the platform's speed and affordability.

Recent surges in trading volumes and market caps of SUI meme coins — such as MIU, LOFI and BLUB — highlight growing investor interest. For instance, BLUB experienced an 88% increase in just 24 hours from Apr 22–23, 2025, contributing to the broader rally of SUI as its price surged over 63% in April 2025.

These coins often incorporate unique themes and philanthropic efforts, such as HIPPO's wildlife conservation donations, that foster strong community support.

Let's look at the top Sui meme coins making waves in the crypto market.

​Sui-based meme coins are rapidly gaining traction due to a combination of technological advantages and vibrant community engagement. The 

 parallel transaction execution and unique gas pricing mechanism enable ultrafast transaction speeds and minimal fees. This makes Sui an ideal platform for the high-volume, speculative trading that meme coins often entail. Sui’s scalability and secure Move programming language attract developers seeking efficient and safe environments for launching their new tokens.​

 (DeFi) further supports meme coin growth, providing avenues for increased utility beyond mere speculation. Following are the top ​Sui meme coins based on market cap, as of Apr 30, 2025.

 is currently the leading ​Sui-based “cat meme coin,” with a market cap of $70.6 million. It draws in investors with its fun, energetic branding and community-driven spirit. MIU also features expanded utility beyond its cute cat hype, allowing users to access DeFi and 

 (NFT) opportunities on its platform. It also promotes long-term commitment via its 

 process, as stakers can earn up to 15% APR with 12 months of staking.

The project frequently launches community events and contests, strengthening its dedicated holder base. MIU’s success highlights the growing appetite for meme tokens on scalable blockchains like Sui. Its playful appeal and strong tokenomics have positioned it at the top of the ​Sui meme sector. MIU is a 

 coin: its total supply is 9 trillion tokens, of which 55% are dedicated to a 

, 15% allocated to staking rewards, 15% to ecosystem development, 10% to community and 5% reserved for the team.

MIU continues to ride the wave of growing meme adoption, aiming to become a lasting force within the Sui ecosystem and beyond.

With a market cap of $35.86 million and over 50 million app users, 

 (MEMEFI) is an ambitious Telegram project that blends the world of memes with SocialFi utilities. Unlike typical meme coins that rely solely on hype, MemeFi aims to engage Telegram users with an interactive web3 meme-themed clicker game that offers daily giveaways and incentivizes ad creations for enterprises.

Its native token, MEMEFI, is more than just a mere meme coin, and has use cases for 

You can trade MEMEFI on Bybit’s Spot trading platform (

 is a rising ​Sui meme coin known for its chill "lofi vibes" branding that resonates with a younger, internet-native audience. Beyond its fun appearance, LOFI has demonstrated solid growth by tapping into communities through music, lifestyle and crypto.

The project also ties in eco-conscious initiatives, focusing on providing clean water sources for global communities and addressing the impact of ocean waste and plastic on marine health, giving it a mission-driven angle not typically seen in meme coins. Besides direct donating, minting LOFI Mystic Yetis NFTs also helps contribute to the cause, with 20% of the proceeds going to the LOFI Foundation.

Lofi’s accessible vibe and shrewd marketing strategy continue to attract new supporters, helping LOFI to stand out in the increasingly crowded ​Sui meme scene. 

 (commonly known as HIPPO) is a community favorite in the ​Sui meme world. The HIPPO token mixes humor with philanthropy, donating a portion of its revenues to wildlife conservation initiatives, starting with Thailand’s Khao Kheow Open Zoo that houses Moo Deng, the adorable pygmy hippopotamus that inspired this viral meme coin. This feel-good approach has helped build an extremely loyal community around the HIPPO token.

Sudeng’s dual focus on memes and real-world impact gives it staying power. The project’s growing community engagement ensures that HIPPO remains relevant in a fast-moving crypto space.

You can buy HIPPO as a USDT Perpetual contract on Bybit (

 is making waves in the ​Sui meme coin ecosystem with its aquatic-themed branding and integration of meme culture. Known for its friendly, community-first approach, BLUB frequently hosts giveaways, meme competitions and liquidity incentives to maximize engagement.

The coin’s fun branding and its steady increase in active users have helped BLUB climb the ranks quickly. Its strong online presence and viral meme campaigns have attracted crypto enthusiasts who are looking for the next breakout meme project. As it continues building partnerships and expanding its reach, BLUB demonstrates strong potential to become a staple in the Sui meme scene.

 (TOILET) is a rising meme coin on ​Sui that embraces humor and absurdity in a way that resonates with crypto culture. Its branding focuses on being intentionally ridiculous, tapping into the viral tone of meme coins that don't take themselves too seriously.

The project’s organic, community-driven growth has made it one of the most talked-about newer entrants in the ​Sui meme space. Frequent meme contests, community raids and spontaneous airdrops help fuel engagement. One of its biggest events is the distribution of Toilet Club Alpha Pass NFTs to the top 100 TOILET holders (as indicated by the Apr 21, 2025 screenshot), which gives holders access to all of Toilet Dust's projects and events and the right to vote on Toilet Dust's future development.

Despite its humorous façade, TOILET’s strong holder base and active marketing tactics suggest it may remain relevant as Sui’s meme coin ecosystem continues to expand.

 (FUD), another top project in the ​Sui meme coin category, is built around an adorable pug mascot battling FUD (fear, uncertainty and doubt) in the crypto world. With a humorous tone and clever marketing, FUD has built a vibrant community of holders who embrace both its memes and its mission.

FUD leverages trending memes, contests and airdrop rewards to keep its community marketing fresh and viral, helping it steadily grow in popularity. Its deep integration of ​Sui apps like 

 — as well as its deflationary tokenomics, whereby 20% is dedicated to token burning — makes FUD a strong contender for future growth in the meme space.

Buying ​Sui meme coins on Bybit can be exciting. Nevertheless, it's important to recognize the risks and rewards involved. 

, and their prices can swing wildly and quickly, offering chances for sizeable gains as well as sudden losses.

Always approach these investments with caution, never risking more than you can afford to lose. That said, the fast-growing ​Sui ecosystem and meme culture can create rewarding opportunities for traders who stay informed and manage their risk properly.

Currently, you can buy MEMEFI as a Spot pair and Perpetual contract on Bybit. HIPPO is also available as a Perpetual contract. This gives traders the flexibility to choose the type of exposure they want — simple buying and holding with Spot, or leveraged trading with Perpetual contracts.

Spot trading is the most straightforward way to buy ​Sui meme coins, as you directly purchase the coin and own it outright. On Bybit, the process is simple. After choosing the Spot pair, such as MEMEFI/USDT, select your preferred order type — e.g., 

(you set the price you're willing to pay) — and confirm the trade to make your purchase.

Spot trading is ideal for beginning traders, as well as anyone who prefers a more straightforward, lower-risk approach as compared to 

Buying Sui meme coins as Perpetual contracts

Bybit offers MEMEFI and HIPPO as USDT Perpetual contracts for those seeking more advanced trading options. With Perpetual trading, you don’t own the actual coins; instead, you speculate on their price movement. Key points to understand include the following:

Perpetual contracts can offer significant rewards, but require a strong understanding of 

. Always start with lower leverage and practice solid trading discipline.

Whether you prefer the simplicity of Spot or the strategy of Perps, Bybit provides flexible ways to explore the booming ​Sui meme coin market.

The rapid rise of meme coins on the Sui blockchain highlights the power of community-driven projects when they’re paired with innovative technology. Thanks to Sui’s high-speed transactions, low fees and developer-friendly environment, Sui meme coins like MIU, LOFI and HIPPO have found a perfect ecosystem in which to thrive. Each project brings something unique to the table — whether humor, philanthropy, DeFi innovation or pure meme culture — creating a vibrant and diverse ​Sui meme coin landscape.

top sui meme coins.png

7 top Sui meme coins to pay attention to in 2025

Mastercard has partnered with Circle, Paxos, and Nuvei to allow 150 million merchants to accept stablecoin payments. 

Daily top performer — Drift Protocol (DRIFT)

The S&P 500 rose 0.58% for a sixth straight gain as markets await key inflation and GDP data, alongside earnings from Meta and Microsoft. Gold fell 0.60% to $3,323 as a stronger USD and improved risk appetite limited safe-haven demand. Prices remained range-bound, with key levels at $3,260 support and $3,400 resistance. The Coindesk Indices, which tracks the broader crypto market, rose 0.51%, with Bitcoin and Ether up 0.55% and 1.31%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is DRIFT, which surged 28.7% following the introduction of Amplify, Drift's tool for simplified leverage that boosts yields with increased risk.

Drift Protocol (DRIFT), founded in 2021, is a decentralized exchange (DEX) on Solana offering spot trading, perpetuals, and market-making tools. Drift v2 builds on this by improving trading efficiency, security, and user-centric features, incorporating community feedback to enhance the platform. 

 by Drift automates leveraging strategies for higher yields by recursively borrowing against yield-generating assets. It simplifies the process, making leverage accessible with one click. However, risks such as liquidation, changing interest rates, and oracle failures exist. Amplify is designed for users with JLP or SOL LSTs seeking to boost yields with minimal complexity but comes with increased risk.

 with Circle, Paxos, and Nuvei to allow 150 million merchants to accept stablecoin payments. The company aims to make it easier for both merchants and consumers to use stablecoins, promoting blockchain technology's mainstream adoption. Additionally, Mastercard has launched a crypto payments card with MetaMask, enabling self-custodied fund transactions with fast processing speeds. Stablecoin market growth is expected to reach $3.7 trillion by 2030.

Yesterday, Bitcoin spot ETFs saw $43.9 million in net outflows, all from non-GBTC funds, while GBTC recorded zero flows.

, a Layer-1 blockchain focused on AI agents and user-owned IP, is offering a limited-time free ticket to its Summit Series for the next 18 hours. Users can also join the Camp Points Program by completing simple tasks to earn points, which may qualify them for a future $CAMP token airdrop. A minimum of 30 points is required to be eligible. Daily check-ins earn bonus points. VPN use may be needed for access.

Mastercard partners with Circle, Paxos, and Nuvei to enable stablecoin payments for 150 million merchants

Bybit Learn

DeFi

Altcoins

Explainers

Ethena presents a synthetic dollar that encapsulates the benefits of traditional stablecoins without their ties to traditional bankings systems. Learn more.

2401-T16454_Skinny_Banner_for_Blog_and_Learn_Row_53_728x90.png

Skinny_Banner-1600x400.webp

 are one of the most useful types of digital currencies. While stablecoins offer stability, their underlying mechanisms and reliance on traditional banking systems pose challenges to true decentralization. Ethena emerges as a groundbreaking solution, introducing a synthetic dollar (USDe) and an innovative investment instrument known as the 

How does Ethena differ from other stablecoins, and why does it stand as a critical development in DeFi? Keep reading to find out.

How to Earn an Additional 20% Boost in Ethena Sats 

Ethena stands at the forefront of DeFi innovation, presenting a synthetic dollar (USDe) that encapsulates the benefits of traditional stablecoins without their ties to traditional bankings. Through the strategic use of 

 mechanisms against staked Ethereum collateral, Ethena's USDe offers an unparalleled level of scalability and censorship resistance in the DeFi space.

Ethena's entry into the market signals a notable shift toward a financial system unshackled from the limitations of traditional banking infrastructures. With a commitment to transparency and scalability, Ethena aims to redefine how we perceive and utilize digital currencies for transactions and savings.

Ethena has been making waves lately due to its impressive performance. Within three weeks of launch, Ethena became the 

 on the market. Not only has USDe supply passed 2 billion, but funding rates have also had a high yield.

USDe is Ethena's response to the call for a decentralized, stable and transparent digital currency in the DeFi ecosystem. Unlike conventional stablecoins tethered to fiat currencies and encumbered by banking regulations, USDe's value is meticulously maintained through advanced delta hedging techniques, aiming to ensure its stability against the U.S. dollar while being fully backed by on-chain assets.

The introduction of USDe not only challenges the existing stablecoin paradigm but also introduces a new era of financial instruments that prioritize crypto native assets, user autonomy and financial innovation.

The supply of USDe broke records when it reached a value of over $1 billion in just a few weeks. As of Apr 1, 2024, the total supply for Ethena's synthetic dollars is already $2 billion, which is significantly larger than all the ETH open interest on every 

. USDe's popularity is partly due to the fact that it's integrated with many prestigious institutions, including 

Founded in 2023 by visionary entrepreneur Guy Young, Ethena emerged from a desire to transcend the limitations observed in traditional stablecoin projects. Witnessing the pitfalls of yield inflation and centralization, Young created Ethena to foster a 

Ethena's vision of reimagining digital currency has garnered significant interest, attracting investments from leading entities in the crypto space. It raised $14 million in funding from venture capital firm Dragonfly Capital, and $6 million in funding from Binance Labs, Bybit, Deribit, Gemini, Mirana Ventures and OKX Ventures.

At its core, Ethena seeks to dismantle the barriers posed by the current cryptocurrency landscape, characterized by volatility and reliance on centralized financial systems. By offering a scalable, crypto-backed currency in the form of USDe, Ethena addresses the critical need for a reliable digital currency that serves both transaction and savings purposes, embodying the true essence of DeFi. 

Ethena's commitment to creating a sustainable, inclusive financial system is evident in its innovative approach to stablecoin design and its emphasis on both user empowerment and financial autonomy.

Ethena's protocol integrates the best of 

 and financial innovation to provide a robust, scalable solution for digital currency. Key components such as delta hedging models and the Internet Bond are central to Ethena's mechanism, ensuring scalability and yield generation in ways previously unexplored in DeFi.

By leveraging staked Ethereum and innovative hedging strategies, Ethena not only offers scalability and efficiency, but also paves the way for a new generation of financial products that align with the ethos of decentralization and user empowerment.

Here are some of the key components that help the Ethena ecosystem run smoothly.

The Internet Bond represents a novel financial instrument within the Ethena ecosystem, offering users a yield-generating asset. Leveraging the underlying Ethereum blockchain, the Internet Bond combines returns from staked Ethereum with the financial opportunities available through delta hedging strategies in the 

 markets. This unique blend not only aims to ensure a stable return but also introduces a crypto-native, dollar-denominated option that’s fully transparent and operates autonomously within the DeFi realm.

Central to Ethena's stability mechanism is the 

, a sophisticated financial strategy designed to neutralize the price volatility of collateral assets. By using delta hedging, Ethena dynamically adjusts its exposure to underlying Ethereum assets, thus aiming to ensure that the value of USDe remains pegged to the U.S. dollar irrespective of market fluctuations. This method supports the seamless maintenance of peg stability while harnessing the growth potential of the underlying Ethereum assets.

Ethena facilitates a fluid and efficient process for the issuance and redemption of USDe, enabling users to directly interact with the protocol. Users can mint USDe by depositing Ethereum as collateral, subject to a fully automated and transparent process governed by 

. Conversely, USDe holders can redeem their tokens for Ethereum, ensuring liquidity and flexibility within the Ethena ecosystem.

 is twofold, incorporating both staked Ethereum rewards and the differentials from its delta hedging operations. This approach not only provides users with a competitive annual percentage yield (

) but also diversifies the sources of yield. The yield mechanism reflects Ethena's commitment to delivering value to its users through sophisticated yet transparent financial engineering.

The more lofty yield options for Ethena mostly come from its perpetual futures funding rates. These are periodic payments earned through differences between perpetual contract markets and spot prices. They’re more volatile, but still have an average return of 7-9%.

Ethena’s upcoming sats campaign introduces a unique aspect of community engagement and rewards within its ecosystem. Users earn sats by participating in various activities within Ethena, such as liquidity provision or token transactions.

Ethena's journey is marked by ambitious plans for expansion and community engagement. There are plans for the continued release of Ethena's ENA governance token. The Ethena team has 

 their governance token to qualify users for further ecosystem participation.

After managing the ENA token launch, Ethena hopes to collaborate with more decentralized exchanges and expand their collateral pools to include Bitcoin and Solana. Sometime during the summer of 2024, Ethena also plans to roll out 

Looking ahead, Ethena's road map unfolds a future where its synthetic dollar, governance token and innovative financial instruments play a pivotal role in shaping the DeFi landscape, highlighting its commitment to growth, innovation and community empowerment.

As part of its loyalty program, Ethena has airdropped tokens to users, and 750 million ENA tokens will be divided up among holders of Ethena shards. Users can claim tokens starting on Apr 2, 2024, and the token airdrop will remain live for 30 days. Ethena has a mandatory token vesting period for the 2,000 largest wallet holders at the time of the airdrop. There are also plans to give users a second chance to claim tokens starting sometime in late 2024, but Ethena hasn't announced the precise details of this token airdrop yet.

The ENA governance token can eventually be used to participate in the Ethena DAO. Token holders can vote on essential aspects of the platform, such as yield rates and asset pools. ENA’s total supply is 15 billion, with an initial circulating supply of 1.425 billion tokens. The debut governance token will be distributed according to the following plan:

How to Earn an Additional 20% Boost in Ethena Sats (Step-by-Step Guide)

2. Deposit at least 30 USDT worth of ETH to pay the gas fee for the token swap.

 feature to Swap & Bridge USDT to USDe. Confirm the details and click on the 

Select "Lock your USDe on Ethena to earn 24x Ethena sats," then, click 

6. Proceed by verifying the points, which will include a 20% boost, after 24 hours on the Ethena page. 

7. Complete all of the reward tasks by following 

Since Ethena's lofty yields have attracted so many users, crypto analysts predict impressive price increases for the ENA token. CoinWire believes that prices will start at around $0.70 and increase to

 in 2024, with the possibility for ENA to reach at least $5 by 2025. Premarket futures for Ethena also support the idea that its ENA token is going to perform well. Last week, premarket futures increased in price by 22% in just 24 hours, so CoinDesk predicts that ENA's initial market cap 

Ethena has partnered with Bybit for the release of its governance token through 

. If you’d like to earn from the 15,000,000 ENA prize pool, you can stake a minimum of 100 ENA or 100 USDT from Apr 2, 2024, 8AM UTC through Apr 9, 2024, 8AM UTC. 

If you’d like to purchase ENA tokens, you can do so through Bybit’s Spot trading platform. To get started with trading ENA, you’ll first need to create a Bybit account, fund it with cryptocurrency and then navigate to the 

To celebrate this listing, Bybit is holding an 

 where you can earn a share of the 300,000 ENA prize pool. 

, will reward the first 1,000 new users who complete the following two steps through Apr 16, 2024, 8.59AM UTC, with 200 ENA each:

If you’re already a Bybit user (prior to Apr 1, 2024, 8AM UTC), no worries — because you can still earn 200 ENA! Simply accumulate a deposit volume of at least 200 ENA, or deposit 200 USDT and purchase at least 200 USDT worth of ENA using your Bybit account. 

 that rewards for each part of the above event will be distributed on a first-come, first-served basis to the first 1,000 existing users.

Invite your friends to sign up for Bybit with your referral code and join the ENA Launchpool. You'll receive 1 ENA for every successful referral (up to 5 referrals. See 

If you're interested in participating in the Ethena protocol, don't forget that the USDe token is also available on Bybit. You can buy the synthetic dollar 

 through the same quick process you use to purchase ENA. 

Investing in ENA, the governance token of the Ethena ecosystem, represents an opportunity to participate in a project that's redefining DeFi through its synthetic dollar, USDe, and the use of its pioneering Internet Bond. Ethena's approach — leveraging advanced delta hedging mechanisms against staked Ethereum —positions it uniquely in the market as a solution that's not just innovative, but also aimed at stabilizing and enriching the existing DeFi ecosystem.

The growth and interest in Ethena reflect its potential to significantly influence the future of DeFi by offering a scalable, stable and decentralized currency alternative. While the inherent volatility of the crypto market calls for cautious investment, the underlying principles, transparency and technological sophistication of Ethena present a compelling case for consideration by those looking to support a DeFi project with a strong vision for the future.

However, even though Ethena has promising capital efficiency and steady yields, don't forget that external markets can be quite volatile. Investors need to 

 carefully before investing. For best results, only put money into crypto assets that you can afford to lose.

Ethena's introduction of the USDe synthetic dollar and its associated financial instruments mark a significant milestone in the journey toward a more decentralized, efficient and inclusive financial system. By challenging traditional financial paradigms and leveraging blockchain technology to its fullest potential, Ethena is not just proposing an alternative, but working toward establishing a new standard for what DeFi can achieve.

Ethena’s commitment to transparency, user empowerment and innovation shines through its protocol’s design, offering a glimpse into a future where finance isn’t bound by the limitations of traditional systems but is instead driven by community, technology and shared vision. As Ethena continues to evolve and expand its ecosystem, it invites users, investors and enthusiasts alike to join in shaping the future of decentralized finance, making it a project to watch and engage with in the days to come.

Ethena (ENA): DeFi's Frontier With a Synthetic Dollar

Compete for 2,500 USDT Every Week

Earn Points by Completing Tasks

Event Rules

Register now and get 10 points

Write/Reply Comments (0/5)

Publish an Article (0/5)

Share an Article on Social Media (0/5)

Like an Article (0/5)

Read an Article (0/5)

Weekly Leaderboard