Crypto

Ethena Labs recently announced the incorporation of Bitcoin (BTC) as backing into their synthetic dollar-pegged offering, USDe. This strategic move aims to scale USDe’s supply beyond its current $2 billion mark. By highlighting the importance of BTC as a backing asset, Ethena Labs is looking to leverage BTC’s superior liquidity and scalability for delta hedging
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The cryptocurrency market recently experienced a correction, with Bitcoin (BTC) being one of the most impacted digital assets. BTC’s price fell by about 6% over a seven-day period, currently trading around $65,400 according to CoinGecko’s data. One possible reason for BTC’s increased volatility and declining value could be profit-taking by long-term holders. Reports have shown
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March proved to be an incredibly profitable month for the Bitcoin mining industry, with miners collectively raking in over $2 billion for securing the leading cryptocurrency network. Data from Blockchain.com revealed that miners averaged $65.23 million per day over the course of the month, setting a new record. This figure far surpassed the previous two
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