这就是 Ethena (ENA) 价格上涨的原因

Ethena (ENA) 的价格今天飙升了 10% 以上，标志着继 9 月中旬开始的看涨趋势之后大幅上涨。

The price of Ethena (ENA) has surged by more than 10% today, continuing a bullish trend that began in mid-September.

Ethena (ENA) 的价格今天飙升了 10% 以上，延续了 9 月中旬开始的看涨趋势。

The upward momentum started when ENA broke free from a five-month descending channel, leading to a price increase of nearly 100%.

当ENA突破五个月下降通道时，上涨势头开始，导致价格上涨近100%。

This breakout has been a major factor driving the price rise, but there are also fundamental developments contributing to the positive sentiment surrounding the project.

这一突破是推动价格上涨的主要因素，但也有一些基本面的发展促进了围绕该项目的积极情绪。

Securitize recently announced a partnership with Ethena for the upcoming launch of UStb, a new stablecoin that will invest its reserves in BlackRock's tokenized U.S. Treasuries fund, BUIDL.

Securitize 最近宣布与 Ethena 合作，即将推出 UStb，这是一种新的稳定币，将把其储备投资于贝莱德的代币化美国国债基金 BUIDL。

With over $522 million in assets, BUIDL is the largest tokenized U.S. Treasuries fund.

BUIDL 拥有超过 5.22 亿美元的资产，是最大的代币化美国国债基金。

This collaboration marks a significant step in the evolution of tokenized finance, merging innovations in stablecoins and real-world asset tokenization.

此次合作标志着代币化金融发展的重要一步，融合了稳定币和现实世界资产代币化的创新。

Securitize is excited to partner with @ethena_labs for the planned launch of UStb, a new stablecoin that intends to fully back the stablecoin reserves into @BlackRock's tokenized U.S. Treasuries fund, BUIDL.

Securitize 很高兴与 @ethena_labs 合作计划推出 UStb，这是一种新的稳定币，旨在将稳定币储备完全支持到 @BlackRock 的代币化美国国债基金 BUIDL。

As the largest tokenized U.S. Treasuries fund with over $522 million in assets, BUIDL… pic.twitter.com/vUotXe6PJZ

作为最大的代币化美国国债基金，资产超过 5.22 亿美元，BUIDL… pic.twitter.com/vUotXe6PJZ

Ethena Labs also announced the partnership, highlighting that UStb will operate as a separate fiat stablecoin product alongside USDe, offering users and exchange partners a new option with a distinct risk profile.

Ethena Labs 还宣布了合作伙伴关系，强调 UStb 将与 USDe 一起作为独立的法币稳定币产品运营，为用户和交易所合作伙伴提供具有独特风险状况的新选择。

The introduction of UStb aims to address concerns within the community about USDe's performance in negative funding rate environments.

UStb 的推出旨在解决社区内对 USDe 在负资金利率环境下表现的担忧。

However, despite bearish conditions over the last six months, Ethena's USDe has managed to avoid any weeks of negative funding.

然而，尽管过去六个月形势严峻，Ethena 的 USDe 仍成功避免了任何几周的负资金。

Additionally, USDe's backing composition can dynamically adjust between basis positions and liquid stable products, depending on interest rate conditions.

此外，USDe 的支持构成可以根据利率条件在基差头寸和流动性稳定产品之间动态调整。

In scenarios of weak funding, USDe could potentially incorporate UStb, allowing Ethena to mitigate risks associated with negative funding rates.

在资金疲软的情况下，USDe 可能会合并 UStb，从而使 Ethena 能够减轻与负资金利率相关的风险。

Furthermore, as Ethena expands into centralized exchange (CEX) collateral offerings beyond its current integrations with Bybit and Bitget, it can provide exchange partners with the choice of two distinct products for margin collateral.

此外，随着 Ethena 在目前与 Bybit 和 Bitget 的整合之外扩展到中心化交易所 (CEX) 抵押品产品，它可以为交易所合作伙伴提供两种不同的保证金抵押品产品选择。

Ethena Labs concluded the announcement by stating that they will share updates on UStb in the coming days. Follow X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates. Get all our future calls by joining our FREE Telegram group.

Ethena Labs 在声明最后表示，他们将在未来几天分享 UStb 的最新信息。关注 X (Twitter)、CoinMarketCap 和 Binance Square，了解更多每日加密货币更新。加入我们的免费 Telegram 群组即可接听我们未来的所有电话。