Ethena Labs has officially launched its USDe stablecoin on both the Hyperliquid DEX and HyperEVM blockchain. This innovative digital asset focuses on scalability and yield generation within decentralized finance. USDe offers daily rewards for users of HyperCore and ensures seamless cross-chain transactions. However, the ENA token is witnessing a significant decline, raising questions about its future performance. This development could influence investor strategies and market perceptions as the DeFi landscape continues to evolve and attract interest.