Ethena recently transferred 5,500 ETH (worth approximately $16.71 million) to Ceffu, an institutional-grade custody platform. This action is likely part of Ethena's standard operational strategy to manage collateral and access liquidity for its synthetic dollar protocol, USDe.
Ethena (ENA) is an Ethereum-based protocol that offers USDe, a synthetic dollar stablecoin, which maintains its value using crypto collateral and a delta-neutral hedging strategy with derivatives."
ETH
2,976.01
-0.55%
ENA
0.2065
-1.00%