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…
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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…
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Over the past 12 days, the stablecoin economy has maintained a similar value, yet the supply of dollar-pegged crypto assets PYUSD and USDE has experienced notable shifts. Over the last 22 days, Paypal’s PYUSD supply increased by more than 70%, while Ethena’s USDE saw an 8.82% decrease within the past 13 days. Ethena’s USDE Drops…
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While June was a lackluster period for crypto assets as many experienced double-digit losses against the U.S. dollar, the stablecoin market also saw minimal growth over the past 30 days. Ethena’s USDE led the growth, with its supply increasing by 21.4% since May. Stablecoin Economy Shows Little Change in June The stablecoin market remained relatively…
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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 $3 billion threshold. As of…
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The Ethena price has rallied by 13% today, reaching $0.9165 as the cryptocurrency market rises by 1% in the past 24 hours. ENA – which is the governance token of the Ethena synthetic dollar protocol – is now up by 16.5% in a week, but down by roughly the same percentage in a month. However,…
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The governance token for synthetic dollar protocol Ethena (ENA) has shed 33% over the last week as it begins Friday morning UTC trading at $0.9632. While this is one of the heaviest intra-week losses for a top 100 cryptocurrency, ENA looks set for a quick recovery. In the last 24 hours it has grown in…
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Emerging stablecoin Ethena (USDe) poses unique risks for holders compared to other dollar-denominated tokens, argued CryptoQuant in a new report on the matter. The Unique Risks Of Ethena (USDe) Boasting a market cap of over $2.3 billion today, Ethena emerged in late February and quickly became the fastest-growing stablecoin in history. One of its most…
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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 $0.9557 per coin.…
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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…
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