Ethena Claims Third Place in Stablecoin Rankings
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BTCCSquare news:
Ethena's USDe stablecoin has surged 75% in supply over the past month, reaching $9.3 billion in market capitalization. This growth propels USDe past FDUSD to secure the third-largest stablecoin position, trailing only Tether (USDT) and USD Coin (USDC).
The protocol now ranks as the sixth-largest DeFi platform by total value locked, with $9.47 billion in assets. Demand for yield-bearing stablecoins continues to drive adoption, cementing Ethena's role in the evolving cryptocurrency ecosystem.
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