Ethena Stablecoin Nears $6B Market Cap, Tops $250M in Revenue

USDE is the flagship stablecoin merchandise of Arthur Hayes-backed Ethena Labs. It’s a synthetic dollar that uses a “delta-neutral” strategy to support its peg with the U.S. dollar. USDE is Quietly Leading the Niche Stablecoin Market The $212 cardinal stablecoin marketplace is presently dominated by Tether (USDT) and USDC, but a caller entrant has softly […]