Ethena Labs已分散。它的稳定者也是USDE。

Ethena Labs已分散。它的稳定者也是USDE。 Ethena的USDE正在迅速增长，其最近的足迹正在引起加密投资者的关注

Ethena Labs' decentralized stablecoin, USDe, is rapidly expanding. Its recent footprint is capturing the attention of crypto investors and market analysts.

Ethena Labs的去中心化Stablecoin USDE正在迅速扩展。它最近的足迹吸引了加密投资者和市场分析师的注意。

Over the course of just one week, USDe's supply has increased by an impressive $300 million—in no small part due to improving funding rates across DeFi. This is a narrative shift that many are noticing.

在整个星期的过程中，USDE的供应增加了3亿美元，这在很大程度上是由于提高了整个DEFI的资金率。这是许多人注意到的叙事转变。

Many see this latest uptick in USDe supply as the harbinger of yet another explosive growth phase for Ethena's ecosystem token, ENA—one that they see having the potential to mirror its meteoric rise in late 2024.

许多人认为USDE Supply的最新提升是Ethena生态系统令牌ENA的另一个爆炸性增长阶段的预示，他们看到他们有可能在2024年末反映其迅速升高的潜力。

Flashback: October 2024 Saw USDe Increment By $4 Billion

闪回：2024年10月，USDE增量增加了40亿美元

The previous occasion on which USDe experienced such swift expansion was in October 2024, when its circulating supply shot up by $4 billion in just under two months. That remarkable growth period far outstripped inflows into all Bitcoin and Ethereum spot ETFs combined and only strengthened Ethena Labs' reputation as a rising force in decentralized finance.

USDE经历了如此迅速扩张的以前的场合是在2024年10月，当时它的循环供应在不到两个月的时间内飙升了40亿美元。这个显着的增长时期远远超过了所有比特币和以太坊ETF的流入，并且只加强了Ethena Labs的声誉，作为分散融资中不断增长的力量。

For eight weeks, ENA—Ethena's native governance and incentive token—had a wild ride of appreciation in value. From a meager $0.25 starting point, the token shot up nearly 5 times in value to an all-time high of $1.25. Not only was the price movement exhilarating for investors already on board, but it also had the effect of attracting some big institutional and retail investor names to the project.

在八个星期内，Ena（Ena） - 埃塞纳（Ena）的本地治理和激励令牌 - 有价值的狂欢。从微不足道的0.25起起点开始，令牌的价值将近5倍，达到1.25美元。价格机芯不仅给已经在船上的投资者而令人振奋，而且还具有吸引一些大型机构和散户投资者名称的效果。

"🚨 $ENA is about to explode, mark my words

“🚨$ ena即将爆炸，标记我的话

USDe, $ENA stablecoin, just increased $300m in supply in the last week as funding rates have improved.

USDE，$ ENA Stablecoin，随着资金率提高，上周刚刚增加了3亿美元的供应。

Why is this a big deal? It’s showing us the next period of big growth for @ethena_labs just like last time

为什么这很重要？它向我们展示了下一个@ethena_labs的下一个大增长，就像上次

The last time USDe..."

上一次USDE ...”

At present, the USDe supply is growing quickly again, and the overall money funding conditions are looking quite nice. Seems like we are set up for a repeat performance of the last major ENA uptrend in summer 2020. A lot of investors are already placing their bets to advantage of this setup. I personally have quite a nice position in ENA and I plan to add quite a bit more soon."

目前，USDE供应量正在迅速增长，整体拨款条件看起来都很好。似乎我们已经准备好在2020年夏季重复进行最后一次重大的ENA上升趋势。许多投资者已经将他们的赌注放置为这种​​设置。我个人在ENA中的职位很不错，我计划很快添加更多。”

Strategic Partnerships and New Blockchain Push the Narrative Forward

战略伙伴关系和新的区块链将叙述推向前进

Further bolstering the overall positive sentiment surrounding Ethena Labs is a rally of partnerships and numerous impactful developments that aim to strengthen its long-term value proposition.

进一步加强围绕埃塞纳实验室的总体积极情绪是伙伴关系的集会和许多有影响力的发展，旨在加强其长期价值主张。

Most prominently, a recent announcement from Ethena reveals a partnership with Telegram to integrate USDe directly into its ecosystem. This partnership dramatically widens the potential user base for the stablecoin. With Telegram's global reach—counting hundreds of millions of active users—this partnership could turn out to be a major driver of actual, real-world adoption of USDe that goes beyond DeFi-centric applications.

最突出的是，Ethena最近的公告揭示了与Telegram的合作伙伴关系，将USDE直接整合到其生态系统中。这种合作伙伴关系大大扩大了Stablecoin的潜在用户群。随着电报的全球影响力 - 数亿活跃用户，这种合作伙伴关系可能是实际采用USDE的主要驱动力，而不是以Defi为中心的应用程序。

Simultaneously, Ethena Labs is preparing to launch a new blockchain called Converge, which is designed with a particular emphasis on real-world asset (RWA) tokenization. This venture is being undertaken in collaboration with Securitize, an RWA platform renowned for its strong focus on compliance and backed by none other than BlackRock. The partnership highlights Ethena's broader strategy of connecting traditional financial institutions with decentralized protocols, a storyline that is gaining increasing currency across the Web3 ecosystem.

同时，Ethena Labs正在准备启动一个名为Connegge的新区块链，该区块链的设计特别强调了现实世界中的资产（RWA）令牌化。这项合作是与Securitize合作进行的，Securitize是一个以其重点关注合规性而闻名的RWA平台，并得到了BlackRock的支持。该合作伙伴关系强调了Ethena将传统金融机构与分散协议联系起来的更广泛的策略，该故事情节正在跨越Web3生态系统的货币增加。

USDe—and, by implication, ENA—could become pivotal players in on-chain finance if Converge sees a successful introduction. Converge could serve as a major catalyst for staking USDe, in equal parts utility tokens and governance tokens.

USDE（即暗示的ENA），如果汇聚可以成功介绍，则可以成为链融资的关键参与者。 Converge可以作为将USDE的主要催化剂，同等的实用程序和治理令牌。

ENA: Is This the Beginning of Another Parabolic Run?

ENA：这是另一次抛物线运行的开始吗？

The supply of stablecoins is growing, and the conditions of the market are bright, and then there are those high-profile partnerships. Put all this together, and you have the present setup for ENA, which is looking more and more like the last rally it had, and which some in the crypto community are calling an "easy call" for a next breakout token.

Stablecoins的供应正在增长，市场状况很明显，然后是那些备受瞩目的合作伙伴关系。将所有这些放在一起，您为ENA提供了当前的设置，ENA的设置越来越像最后一次集会，而加密货币社区中的一些人则称其为“简单呼叫”，以进行下一个突破令牌。

Aside from the imagineering upside, Ethena Labs is putting forth a larger vision—one that melds DeFi tools of the kind that can scale with the traditional financial infrastructure. In that world, the three projects we just mentioned would play a part. Ethena would serve users a yield-bearing, censorship-resistant stablecoin in USDe, while it and the two other projects would build out a regulated real-world asset (RWA) ecosystem—in other words, something that might get us to a usable crypto future faster than the un-usable present.

除了想象中的上升空间外，Ethena Labs还提出了更大的愿景 - 一种可以与传统的金融基础设施扩展的Defi工具。在那个世界中，我们刚才提到的三个项目将发挥作用。 Ethena将在USDE中为用户提供承担率的，耐心的稳态，而IT和其他两个项目将建立一个受监管的现实世界资产（RWA）生态系统，换句话说，这可能会使我们更能比不可用的礼物更快地进入可用的加密货币未来。

Although no investment is without risk, Ethena Labs and ENA seem to be moving with momentum into a critical growth phase. If historical performance is any guide, the next few weeks could bring transformative changes both for the token and for the DeFi ecosystem that is closely observing from the sidelines.

尽管没有任何投资没有风险，但Ethena Labs和Ena似乎正在以动量发展到关键的增长阶段。如果历史表现是任何指南，接下来的几周可能会为令牌和从旁观者近距离观察的Defi生态系统带来变革性的变化。

This is not

这不是