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The comprehensive supply of its stabilizer has risen sharply, and now the Essena Laboratory is shifting the waves in the space.
The comprehensive supply of its stabilizer has risen sharply, and now the Essena Laboratory is shifting the waves in the space.
The supply of Ethena Labs stablecoins surged, with its stablecoins USDE and USDTB totaling $6.7 billion, more than tripled from a year ago. This growth reflects the overall expansion trend of the stablecoin market and the growing demand for traditional finance (Tradfi) alternatives from investors.
Ethena Labs' success is partly due to its partnership with BlackRock, one of the world's largest investment companies. About 90% of its USDTB stablecoin reserves are composed of liquidity pool (LP) stocks of BlackRock Buidl Fund. Ethena Labs is the fund's largest liquidity provider, holding approximately $1.29 billion in LP stock, making it one of the fund's largest indirect investors.
This strategic partnership not only ensures the stability of USDTB, but also enhances Ethena Labs' reputation among institutional and retail investors, and highlights the trend of increasing integration of traditional finance and decentralized finance (DeFi). BlackRock Buidl Fund focuses on blockchain and crypto assets, becoming the main channel for large-scale investment in this field.
Ethena Labs’ strategy is to simultaneously provide liquidity in the DeFi ecosystem and benefit from investments in traditional financial institutions such as BlackRock. This dual positioning makes Ethena Labs a bridge connecting the DeFi world with the traditional financial world. As the supply of USDE and USDTB continues to grow, Ethena Labs' future development prospects are bright.
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