The stablecoin market has crossed an impressive $ 200 billion in value, with the top three fiat-pegged tokens experiencing notable growth over the past month. Ethena’s USDE has taken center stage, climbing over 89% since Nov. 9. USDE Supply Soars, USD0 Issuance Climbs a Staggering 91% As of Monday, Dec. 9, stablecoin data from …
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 […]
Current stablecoin metrics show that USDE, the popular yield-bearing stablecoin, has slipped to fifth place among the top U.S. dollar-pegged tokens by market capitalization. Over the past three days, Ethena’s USDE supply has decreased by 130 million, pushing First Digital’s FDUSD into the fourth largest spot. Stablecoin Shakeup: USDE Slips to 5th, FDUSD Rises to […]
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 …
On Wednesday, Ethena Labs, the team responsible for the yield-bearing stablecoin project USDE, revealed its expansion to the Solana blockchain. This move brings USDE to the distributed ledger, with SOL now also being used as part of the stablecoin’s reserve backing. USDE Stablecoin Project Extends to Solana, Includes SOL Backing Despite witnessing redemptions totaling around […]