{"id":167965,"date":"2025-08-26T12:40:27","date_gmt":"2025-08-26T09:40:27","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=167965"},"modified":"2025-08-26T12:40:27","modified_gmt":"2025-08-26T09:40:27","slug":"ethenas-usde-surges-past-12b-captures-4-of-stablecoin-market","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ethenas-usde-surges-past-12b-captures-4-of-stablecoin-market\/","title":{"rendered":"Ethena\u2019s USDe Surges Past $12B, Captures 4% of Stablecoin Market"},"content":{"rendered":"
The rise cements Ethena\u2019s growing influence in a sector long dominated by Tether and Circle.<\/p>\n
Much of USDe\u2019s growth has been fueled by rising perpetual funding rates, which have more than doubled since the second quarter. Average rates climbed from 3.94% to 9.21%, creating a favorable environment for Ethena\u2019s model, which thrives on arbitraging these funding flows against declining treasury yields.<\/p>\n
<\/p>\n
Messari highlighted that this reflexive business model makes ENA, Ethena\u2019s governance token, particularly attractive in bullish conditions. Anticipation is also building around the project\u2019s Digital Asset Treasury (DAT) launch, which could bring additional institutional inflows.<\/p>\n