TechFlow reports on March 18 that analyst Ericonomic stated, through a series of on-chain investigations, Ethena may be preparing to deploy its stablecoin USDe on Hyperliquid. A few hours ago, someone purchased the $USDe token ticker on Hyperliquid.
On-chain data analysis shows that the ticker was purchased by address 0x4758...d605, which was funded by address 0x643D...7Ae4—this latter address appears to be an EOA address associated with one of Ethena’s deployers (though evidence is limited). The funds for the 0x643 address originated from 0x796E...3b29, an address clearly linked to Ethena, as it serves as a signer for Ethena developer multisigs and owns ENS domains such as etheinainsurancefund and ethenaops.
In addition, this address has been used as an example in Ethena's official documentation. The analyst speculates that Ethena might be waiting for the integration between HyperEVM and HyperCore's token linking functionality to go live before proceeding with deployment.
