In a significant development for the cryptocurrency market, Arthur Hayes, the Chief Investment Officer at Maelstrom and a founding advisor to Ethena, has voiced his enthusiasm for Upbit's recent announcement. As enthusiastically stated in the publication, the exchange has introduced trading support for Ethena's synthetic stablecoin, USDe, which has already begun to impact the market positively.
Surge in ENA Token Value
The announcement, which went live on January 14, 2026, has resulted in a remarkable surge in the value of Ethena's native token, ENA, which has skyrocketed by over 83%. Hayes expressed his excitement on social media, exclaiming, 'Giddy up bitches it's time for ENA 1,' reflecting the bullish sentiment surrounding the token's future.
Upbit's New Trading Pairs
Upbit's trading pairs for USDe include:
- the Korean won
- Bitcoin
- Tether's USDT
All operating on the Ethereum network. This strategic move by Upbit is expected to enhance liquidity and attract more investors to the Ethena ecosystem, further solidifying its position in the competitive landscape of synthetic assets.
In a notable development, Upexi has secured a $36 million convertible note from Hivemind Capital Partners, enhancing its position in the cryptocurrency market. This move contrasts with Upbit's recent trading support for Ethena's USDe. For more details, see read more.
