Ethena’s USDe Stablecoin Surges 75% in a Month, Hits $9.29B Market Cap

In Brief:

USDe market cap climbs to $9.293B, up 75.13% in the past month.

Now the third-largest stablecoin, trailing only USDT and USDC.

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Ethena’s synthetic stablecoin USDe has seen rapid growth, with its market capitalization reaching $9.293 billion, according to DefiLlama. This represents a 75.13% increase over the past month, solidifying USDe’s position as the third-largest stablecoin in the market, behind Tether (USDT) and USD Coin (USDC).

USDe’s swift rise underscores growing demand for synthetic stablecoins and Ethena’s expanding footprint in the DeFi ecosystem, as traders seek alternatives to traditional fiat-backed tokens.

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