Ether.fi launches branded stablecoin on Ethena infrastructure
ether.fi (ETHFI)
Editor:
Eugene Serbin
Cryptobriefing.com reports that Ether.fi will issue its own dollar token using Ethena’s Whitelabel infrastructure. This move allows the liquid staking protocol to manage its own branded stablecoin while Ethena handles the underlying plumbing. Ethena will cover issuance, backing management, custody, reserves and liquidity integrations for the new asset.
Ether.fi retains the brand and user relationship while sharing in the revenue generated by the stablecoin. The protocol joins other projects like Jupiter and MegaETH that have used Ethena’s service to deploy tokens such as jupUSD and USDm. Ethena offers two backing options: USDe, a synthetic dollar with a supply of approximately $4.9 billion, and USDtb, which is backed by traditional assets.
USDe supply has fallen from a 2025 peak of around $14.8 billion to its current level. The two protocols previously partnered in September 2024 to allow users to deposit USDe for liquid restaking tokens. This new arrangement shifts focus from plugging Ethena’s dollar into staking products to placing Ethena’s infrastructure under an Ether.fi branded dollar. Key details including the token’s name, launch date, backing mix and revenue split remain undisclosed.
How the market reacted
Whalio's own Binance spot order flow for ETHFI, measured when this story was written up on 6 October 2026. Not the outlet's figures.
ETHFI is trading at $0.7410 with a 24-hour buy ratio of 52.1%, indicating a slight edge for buyers over the full day. However, the 1-hour buy ratio stands at 55.2%, showing stronger immediate buying pressure compared to the 4-hour ratio of 48.2%. The 1-hour volume delta is positive at +$92,218, while the 4-hour delta is negative at -$15,249, suggesting short-term momentum is shifting. Over 24 hours, the volume delta is +$192,042 with a CVD of +$266,389, confirming net buying activity. This means buyers have been more aggressive than sellers in the last day, but the 4-hour view shows recent consolidation. The data reflects active trading with 60,771 trades and $4,467,545 in volume.
The latest daily buy ratio of 47.6% sits at the 22nd percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETHFI, averaged over the days leading up to the story.
The current 24-hour buy ratio of 52.1% is 2.2 percentage points higher than the 7-day average of 49.8%. This indicates that buying pressure is slightly above the recent norm. Volume is at 0.61x the average, meaning trading activity is subdued compared to the preceding week. The coin has risen 4.4% over eight days with a total volume delta of +$1,029,013. While buying intensity is up, the lower volume suggests this is not an unusually heavy trading day for the asset.