USDe Outpaces USDT: Ethena’s Stablecoin Market Cap Surges 75% with Treasury Backing

Ethena's synthetic dollar stablecoin, USDe, has achieved a remarkable 75% monthly surge in market capitalization, reaching $9.3 billion. This growth, highlighted by a 24% weekly increase, has positioned USDe ahead of Tether (USDT) in supply expansion. Since mid-July, USDe has added $2.73 billion to its market cap, outpacing USDT's $2.47 billion increase. The rapid ascent follows Ethena's July 21 launch of Stablecoin X, a treasury initiative committing $260 million to bolster USDe's stability and adoption. As of August 2025, USDe's yield-bearing model and strategic treasury support are driving its competitive edge in the stablecoin market, challenging USDT's dominance. This development underscores the evolving dynamics of decentralized finance (DeFi) and the growing investor confidence in alternative stablecoins.

Ethena’s USDe Stablecoin Sees 75% Market Cap Surge Amid Treasury Launch

Ethena's synthetic dollar stablecoin USDe has surged to a $9.3 billion market capitalization, marking a 75% monthly gain and 24% weekly growth. The yield-bearing asset now outpaces Tether's supply expansion, adding $2.73 billion since mid-July compared to USDT's $2.47 billion increase.

This explosive growth follows Ethena's July 21 launch of Stablecoin X, a treasury vehicle that committed to purchasing $260 million worth of ecosystem token ENA. The platform's 11% annualized yield for staked USDe (sUSDe) has further accelerated minting activity, creating a virtuous cycle of demand.

While USDe flourishes, Circle's USDC has bled $800 million in supply—a stark contrast that underscores shifting market preferences. Ethena founder Guy Young's architecture, which allows the foundation to block treasury token sales, ensures capital remains deployed within the ecosystem.

$14.5B Bitcoin Heist Exposed: Chinese Mining Giant LuBian Tied to Largest Crypto Theft Ever

Chinese Bitcoin mining pool LuBian suffered the largest crypto theft in history, losing 127,426 BTC in December 2020. Initially valued at $3.5 billion, the stolen bitcoin now stands at $14.5 billion due to BTC's price surge. Blockchain analytics firm Arkham Intelligence revealed the breach, contradicting earlier assumptions that regulatory pressures caused LuBian's sudden shutdown in early 2021.

The hackers exploited weak private key generation, draining over 90% of LuBian's BTC in a single attack. Two days later, an additional $6 million in BTC and USDT was siphoned from a linked Omni layer wallet. LuBian's desperate pleas via 1,500 bitcoin transactions went unanswered. The hacker's wallet remains largely dormant since a July 2024 consolidation.

Litecoin Takes Second Place in Crypto Payments, Surpassing Stablecoins on CoinGate

Litecoin has surged to become the second-most preferred cryptocurrency for payments on CoinGate, trailing only Bitcoin. Data from the Lithuanian payment processor shows LTC claimed 14.5% of July transactions, outperforming both USDC (14%) and USDT (12.2%). TRON secured fourth place with 12.9%.

The 'digital silver' continues to punch above its weight in payment utility despite its modest market cap ranking. Litecoin's blockchain architecture delivers faster settlements and lower fees than many top-tier assets—a competitive edge that's driving merchant adoption. This marks a notable shift in stablecoin-dominated payment flows.

Bitcoin maintains its dominance with 22.9% share, reinforcing its dual role as both store of value and transactional medium. The rankings suggest growing diversification in crypto payment preferences beyond the usual suspects.