Ethena’s USDe Flips DAI to Become Third-largest Stablecoin

Ethena Labs’ synthetic dollar, USDe, is now the third largest stablecoin behind USDT and USDC after more than doubling its market capitalization since Nov. 1. At $5.5 billion, USDe has overtaken DeFi stalwart MakerDAO’s DAI (now sUSD), which sits at just under $5.2 billion. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant