ENA, the token tied to Ethena, extended its 24-hour gain to 25.6% and reached $0.28, according to market data from HTX cited by BlockBeats on Sept. 26. The price move came a day after Ethena announced a partnership with Binance that expands USDe’s basis strategy beyond crypto perpetuals into stock perpetuals. Under the setup described in the announcement, the strategy involves buying tokenized stock certificates known as bStocks, issued by a Binance affiliate, in the spot market while opening short positions in USDT-denominated stock perpetuals on the same platform. BlockBeats also pointed readers to a separate analysis article examining how Ethena’s connection to U.S. stock perpetual products could affect ENA’s rally. The report did not provide additional price data beyond the 24-hour gain and the $0.28 level cited by HTX.
ENA, the token associated with Ethena, extended its 24-hour gain to 25.6% and touched $0.28, according to HTX market data cited by BlockBeats on Sept. 26.
A day earlier, on Sept. 25, synthetic dollar protocol Ethena said it had partnered with Binance to expand USDe’s basis strategy from crypto perpetuals to stock perpetuals. The structure described by the company involves buying bStocks, tokenized stock certificates issued by a Binance affiliate, on the spot market while shorting USDT-denominated stock perpetuals on the same platform.
BlockBeats also referenced a separate analysis piece titled “What’s the impact of Ethena linking up with U.S. stock perpetuals behind ENA’s sharp rally?”
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