3 hours ago
Ethena’s synthetic stablecoin, USDe, has climbed to implicit $13 cardinal successful circulation little than a time aft it was listed connected Binance.
DeFiLlama data shows proviso jumped astir 2% successful 24 hours to astir $13.2 billion, making it the fastest-growing stablecoin successful the past day.
This accelerated enlargement has been ongoing implicit the past month, with the protocol adding much than $3 cardinal to its footprint aft it crossed $10 cardinal successful August. Notably, USDe is the third-largest stablecoin successful the industry, controlling astir 5% of the $287 cardinal stablecoin market.
Meanwhile, the timing of this maturation reflects respective reinforcing factors designed to boost the stablecoin’s growth.
Over the past months, market involvement successful stablecoins has accelerated aft President Donald Trump signed the GENIUS Act, the archetypal national instrumentality providing a model for these assets.
That regulatory clarity, coupled with Ethena’s important yields of astir 10%, has drawn superior from investors who spot DeFi returns arsenic much charismatic than US Treasurys.
Binance’s integration offers USDe $4B opportunity
This milestone comes arsenic Binance added USDe to its level this week.
Guy Young, Ethena Labs’ founder, said the listing highlights Binance’s uncommon determination to backmost an outer task aft extended owed diligence.
He described the integration arsenic a turning point, with Binance’s $130 cardinal successful assets and $40 cardinal successful stablecoins offering a monolithic organisation channel.
Ethena USDe Market Opportunity connected Binance (Source: Ethena)Considering this, Young said helium expects USDe adoption connected Binance to yet reflector its penetration connected Bybit, wherever it accounts for astir 12% of full dollar balances.
According to him:
“USDe penetration for USD assets connected different CEXs sits astatine astir ~12% which would correspond to >$4.0 cardinal of USDe connected Binance.”
According to the announcement, the token volition beryllium paired against Tether’s USDT and integrated into Binance Earn, allowing users to cod play dollar-denominated rewards for simply holding USDe connected the exchange.
Later this month, it volition beryllium accepted arsenic collateral crossed Binance’s futures and perpetual markets.
The station Ethena’s USDe stablecoin surges to implicit $13B aft Binance listing appeared archetypal connected CryptoSlate.
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