“In just 20 days, USDE ADDED OVER $ 3.1B in Supple, Eclipsing Inflows Into Blackrock’s ibit and ETHA Combined. Reflexive Market Dynamics and Rising Yields Are Fueling The Stablecoin’s Explosive Growth.”, – WRITE: www.coindesk.com
(Ethena)
Access to on -chain Data Curated by the Etena Community, The Supple Increase Since July 17 is the Fastest Period of Growth Since the Protocol’s Inception Inception Inception in February 2024.
Inflow Into the Yield-Bearing Stablecoin Exceeds The $ 2.75 Billion Added to Blackrock’s Ether Etf (ETHA) and The $ 1.60 Billion Into it Bitcoin etf Magnet for Capital Across Both on- and Off-Chain Markets in Recent Weeks.
The Rally Has Spilled Over Into Ethena’s Governance Token Ena, WHICH more than DOBLED IN THE PAST MONTH, TUOUGH IT IS DOWN 12% IN THE PAST 24 Hours
The Protocol Has Already Surpassed Most of the Thresolds Require to Distribute Revenue to Stake Ena Holders, with The Final Benchmark, A Favoryable Yeld Spread Versus Rivales, Exper.
USDE’S REFLEXIVE LOOP
USDE’S RECENT GROUWH REFLECTS A POWERFUL Reflexive Loop Built Into Its Core Design, As Nansen Explained in A Recent Research Report on the Ethena EcoSystem.
As Bitcoin and Ether Prices Rally, Perpetual Funding Rates in Turn IncreASINGly Positive. Ethena CAPTures This Funding Via Delta-Neutral Hedges, and Distributes It As Real-Time Yield to Susde Holders.
That Higher Yield Ten Draws in More USers, Leading to Greater USDE Issuance, More Hedging, and More Protocol Revenue.
In the Last Month, Ethena Has Brough in Nearly $ 50 Million in Feed and $ 10 Million in Revenue, Accounting To Defillama Data. This Makes It The Sixth BEST-PERFORMING PROTOCOL FOR MONTHLY FEE REVENUNUCCORDING TO THE DATA AGGregator.
Ena is currently trading for $ 0.58.
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