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 $ …
The fifth-largest stablecoin in the crypto economy by market capitalization, Ethena’s USDE, temporarily detached from its peg on Saturday amid market declines. Data reveals that the token, designed to mirror the U.S. dollar’s value, declined to $ 0.965 each. Similarly, the market witnessed the fourth largest stablecoin, FDUSD, fall to a low of $ …
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 […]
On Thursday, Ethena Labs unveiled its new strategy to back USDE with bitcoin, enhancing the stablecoin’s foundation. The stablecoin, known for delivering yields in the double digits, has rapidly ascended to become the fifth-largest stablecoin by market capitalization, now valued at over $ 2 billion. USDE to Utilize Bitcoin as Collateral An update shared …
This month we have witnessed a continuous expansion in the stablecoin domain, eclipsing the $ 150 billion mark on March 20, 2024, with an infusion of an additional $ 1.4 billion into the arena since then. Leading the pack in supply growth for March was Ethena’s USDE, soaring by 194.9% over the last …