Close Menu
StreamLineCrypto.comStreamLineCrypto.com
  • Home
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT
  • Defi
  • Blockchain
  • Metaverse
  • Regulations
  • Trading
What's Hot

A Weekly Close Above $0.41 Could Make History

October 7, 2025

Solana Sees Explosive Stablecoin Growth – Here’s How Much Supply Is Held In The Blockchain

October 7, 2025

Dips Below $122K as XRP, Solana, ADA Plunge 5%

October 7, 2025
Facebook X (Twitter) Instagram
Tuesday, October 7 2025
  • Contact Us
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms of Use
  • DMCA
Facebook X (Twitter) Instagram
StreamLineCrypto.comStreamLineCrypto.com
  • Home
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT
  • Defi
  • Blockchain
  • Metaverse
  • Regulations
  • Trading
StreamLineCrypto.comStreamLineCrypto.com

Demand for high yield makes Ethena’s USDe third largest stablecoin

December 4, 2024Updated:December 4, 2024No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Demand for high yield makes Ethena’s USDe third largest stablecoin
Share
Facebook Twitter LinkedIn Pinterest Email
ad


Demand for high yield makes Ethena’s USDe third largest stablecoinJoin Japan's Web3 Evolution Today

Ethena’s artificial USDe greenback has emerged because the fastest-growing USD-pegged stablecoin over the previous 30 days after its market capitalization skyrocketed 73% to an all-time excessive of $4.77 billion.

The surge has propelled USDe to grow to be the third-largest stablecoin, surpassing DAI’s $4.7 billion market cap. Nevertheless, USDe nonetheless lags behind Tether’s USDT at $135 billion and Circle’s USDC at $40 billion.

Ethena Labs co-founder and CEO Man Younger stated:

“We’re starting to now see the results as USDe blackholes each stablecoin in DeFi whereas warping lending markets to a brand new base charge Nevertheless it has grow to be evident that DeFi is insufficiently sized for the time being to shut the arb completely and bigger swimming pools of capital are required The following step for Ethena is plugging on to $100b-1tn+ asset managers who can present the capital required.”

In the meantime, the fast progress mirrors the momentum seen earlier this 12 months when USDe’s market cap hit the $3 billion mark simply 4 months after its public launch in February.

What’s driving USDe’s progress

Market observers identified that USDe’s surge displays robust dynamics fueled by bullish sentiment and demand for various yield-bearing property.

In contrast to USDT and USDC, that are broadly used for transactions, nearly all of USDe tokens are held to earn rewards. This implies that customers primarily view USDe as a yield-generating asset reasonably than a medium of trade.

Certainly, USDe affords notably enticing yields generated by means of Ethereum staking rewards hedged in opposition to brief funding charges for ETH. Based on Ethena’s web site, sUSDe holders can earn an annual proportion yield (APY) of 29%.

Notably, some critics have drawn parallels between Ethena’s mannequin and the ill-fated Terra-Luna mission. In Might 2022, Terra’s algorithmic stablecoin collapsed after its aggressive progress technique turned unsustainable, resulting in a big downturn within the cryptocurrency market.

However, demand stays excessive, evidenced by the truth that its provide and borrow APR charges considerably outpace these of USDT and USDC on Aave. 

Aave is the most important DeFi lending protocol within the crypto ecosystem, boasting a complete worth locked (TVL) of round $30 billion.

Talked about on this article
Newest Alpha Market Report



Source link

ad
demand Ethenas High largest stablecoin USDe yield
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Related Posts

A Weekly Close Above $0.41 Could Make History

October 7, 2025

Solana Sees Explosive Stablecoin Growth – Here’s How Much Supply Is Held In The Blockchain

October 7, 2025

Dips Below $122K as XRP, Solana, ADA Plunge 5%

October 7, 2025

S&P Global expands its reach with hybrid crypto-ecosystem index

October 7, 2025
Add A Comment
Leave A Reply Cancel Reply

ad
What's New Here!
A Weekly Close Above $0.41 Could Make History
October 7, 2025
Solana Sees Explosive Stablecoin Growth – Here’s How Much Supply Is Held In The Blockchain
October 7, 2025
Dips Below $122K as XRP, Solana, ADA Plunge 5%
October 7, 2025
S&P Global expands its reach with hybrid crypto-ecosystem index
October 7, 2025
S&P Expands Into Crypto With New Multi-Asset Crypto Index
October 7, 2025
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms of Use
  • DMCA
© 2025 StreamlineCrypto.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.