Ethena has proposed integrating its liquidity and hedging engine into Hyperliquid, a layer one (L1) blockchain set to launch its EVM mainnet. The proposal includes adding USDE, Ethena’s stablecoin, within the Hyperliquid ecosystem upon mainnet launch. Ethena Eyes Hyperliquid’s Rapid Growth for Next Phase of USDE Expansion The proposal outlines a cautious approach to integrating […]
Based on the latest data, Ethena’s yield-generating stablecoin, USDE, has experienced a dramatic contraction in supply since July 4, 2024. Over the span of less than two months, its market capitalization has decreased by $ 770 million. Ethena’s USDE Supply Plummets as Competition Heats Up From Aug. 23 to Aug. 30, the stablecoin economy …
This weekend, Ethena’s synthetic U.S. dollar stablecoin USDE reached the $ 3 billion range. As of June 2, 2024, USDE has surpassed First Digital’s FDUSD stablecoin. Ethena’s Synthetic Stablecoin USDE Exceeds $ 3 Billion Launched in February, the synthetic U.S. dollar stablecoin USDE, which offers yield earnings on holdings, has exceeded the $ …
Following criticism of Ethena’s USDE stablecoin, which brought back memories of the Terra blockchain’s Anchor protocol failure, Ethena backer Arthur Hayes introduced a risk tracker by intotheblock.com that monitors aspects like the token’s adherence to its U.S. dollar peg. Intotheblock.com’s Ethena Risk Radar Dashboard At the time of reporting, Ethena’s recently launched USDE stablecoin boasts […]
Since its launch on April 2, the Ethena governance token ENA has experienced an 80% climb in value against the U.S. dollar, ascending from an all-time low of $ 0.532 per token. Currently, it ranks among the top 100 coins by market capitalization, boasting a total valuation of $ 1.36 billion at the …