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Ethena Labs is an decentralized blockchain protocol which is revolutionizing hedge funds practices by tokenization. Tensor is a marketplace for non-fungible (NFT) tokens on the Solana ecosystem (SOL). Binance’s listing of TNSR, ENA and their native tokens has caused a buzz in the cryptocurrency industry. Another project ETFswap(ETFS)has gained traction on the crypto-market, and many are speculating about a possible listing of their native token ETFS at Binance because of the ongoing landmark presale. Ethena’s (ENA), a synthetic yielding dollar that is tokenized, brings back memories of Terra. The stablecoin was introduced in February and has been causing controversy within the crypto-community due to its eerie similarities with UST, the currency used in Terra’s failed ecosystem. The TVL of USDe went from $178,000,000 to $2 Billion in two months, thanks to users who have staked USDe at least seven days. This yield is 37%. This high yield can help investors maximize their profits immediately, but it also comes with high risk, such as in Terra UST’s case, where the yield was close to 20% before it crashed. Guy Young, founder of Ethena Labs, has labelled this comparison between USDe and UST weak. ENA is its native token and currently trades for $1.28. This represents a decrease of over 12.88% in just 24 hours. According to Coinmarketcap, it ranks 52nd on the cryptocurrency market.
Tensor(TNSR)Rekindle Interest in NFTs
Tensor, an NFT-based marketplace on Solana, is heating up the NFT ecosystem, increasing interaction. Tensor, a Solana-based NFT marketplace, is responsible for 70% of all NFT sales on Solana. In just three months they processed over $2 billion.
These massive sales did not save TNSR (its native token) from experiencing a steep drop in value. According to Coingecko, the price of TNSR has dropped to $1.06 in just 24 hours. Its initial trading volume, which was $1.16billion has now dropped to just $175m.
Despite its recent listing on Binance, the token’s price has been declining, which has caused reactions amongst the crypto community. They have also expressed doubts and concerns about the long-term prospects of the token. ETFSwap raises $750,000 in a private sale
ETFswap is a platform that tokenizes exchange-traded fund (ETFs) and restructures DeFi. The platform tokenizes ETFs to allow traders to invest in various asset classes such as precious metals and boost their portfolios. The platform offers traders leverage up to 10x. The platform allows users to easily exchange their assets with seamless swapping and enlarge their portfolios. ETFswap’s (ETFS) smart contract was audited by an expert to ensure that it is safe for its users and ecosystem. Cyberscope, an expert in blockchain security audited the smart contract and certified that it was free of any vulnerabilities.
Recently, the platform hosted a sale of its native ETFS token in a three-day private event. It raised $750,000 in total from two institutional and three angel investors. The project’s ecosystem and long-term prospects are being viewed with greater interest.
To learn more about the ETFS Pre-Sale, visit:
This article is sponsored. Its views are not those of ZyCrypto and should not be considered as such. The readers should do their own research on the companies, products, and projects mentioned. This article is not intended to be investment advice. Trading cryptocurrencies can be risky due to the volatile nature of the market.