Ethena Labs’ synthetic dollar stablecoin, USDe, gains momentum, becoming the fourth-largest stablecoin by market capitalization. Surpassing $3 billion in supply just four months post-launch, USDe’s growth outpaces any USD-pegged asset in crypto history. Notably, it outstrips the entire Solana blockchain’s revenue, earning $7 million in the past week alone. Analysts speculate on USDe’s sustainability and its potential impact on DeFi.
