Ethena’s $7.3B move: Is USDe the next center of gravity in DeFi’s stablecoin wars?

Key Disruption

Ethna’s USDE has attracted $ 2 billion this month this month, push their market tap past 7.3 billion. Their yielding engine is actively converting the requested request in sustained exit.

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Zooming in, July saw a solid-on risk to move in Crypto. Almost $ 200 billion flows upward, excluding Bitcoin [BTC] and it Ether [ETH]. I am

Eden [ENA] It was a cool tired, ripping up 130% over the month and position yourself as one of the strongest moment is playing in the current market cycle.

But Zoom Out, Outperformance of Ena is not just a pulse impulse a short period of time.

According to Amccrypto, USDE (USDA (Ethen’s Native Sappedcoin) is actively driving rally, making a narrative that should not forget.

The Etena’s wing engine is in full gear

The USDE’s USDE, a dollar pic, is pulled in $ 2 billion to face this month, push your market tapp to $ 7.3 billion, making the third largest Stampcoin behind USDT and USDC.

And this growth is not random.

Instead, has been driven by performance. Ethena offers 10% APY on sobs, its useless version, making one of the most suitable returns at the risk through firms.

As illustrated in the undercase, rush recently to top 10.29%, reflect rigarie directly ethna’s chain generation. In other words, capital has shortened in use not only for the stability but for the rest.

Save that the moment is the right protoling income.

Ehena are pulled in $ 30,85 million in the fees in the past 30 days, driven by increased demand from users who stand up to your apy high.

Meanwhile, on the institutional, anchorage and electai labs are launched USEDTB. Is the first steady for respect with the genius act.

Together, these elements Highlight how Ethen is scale the adoption of the string through the USDE performance engine. But the real question now is, how is this feedback cycle translated into a sustained request for esa?

Ethena converts the USDE requests in the HAIR PRESSURE PRESSURE

As amccrypto signed upSure to earn USdc and USDC of the US and rotate that entry in bitcoin as part of their reserve strategy.

Ethanna plays another game. No basis in t-bills.

Instead, resembling the crypto market volatility, capture funding rewards to generate the chain performance.

This is how to work: When the market is in the bills, bitcoin traders to go for perpetual future, and they have to pay focus on those with the destinary (shorts).

Ehna takes the short side, collecting that fund as performance.

As a resulting, that performance is therefore recycled in the buyers, returning the growth of growth in real, supported token for native token.

In fact, between 22 and 25 July July, 83III million (1.3% of circulating sum) were ran out through public placesAs part of the Foundation of Foundation $ 260 million initiative of purchase.

That’s why 40% of the hour’s on the exhibit the sound of the market. In this fee, the rolling of $ 1 is not hype, it’s just where the head of the chart.