
Stablecoins Transfer Volume Surpasses Visa, Mastercard Combined in 2024
Stablecoins’ supply saw explosive growth, rising by over 59% throughout the year and peaking at $200 billion in September.
Stablecoins’ supply saw explosive growth, rising by over 59% throughout the year and peaking at $200 billion in September.
Ethena Labs launched its USDtb stablecoin backed by BlackRock’s USD Institutional Digital Liquidity Fund while clocking $65 million in total-value-locked (TVL) on the first day.
Ethena’s growth has been quite remarkable, and now, there is a vivid possibility of it carving out a significant portion of the stablecoin market for itself.
Derive Protocol has made history with its locked value jumping above the $100 million mark.
The Ethena price rally is fueled by high demand for its USDe stablecoin, which has seen a 73% market cap increase in the past month.
The stablecoin market has not only recovered but thrived, showcasing remarkable resilience and adaptability.
Deribit has integrated Ethena Labs’ USDe as a collateral asset.
Global digital asset exchange Gate.io has announced the upcoming launch of its USDE wealth management products, which include USDE Staking and USDE Simple Earn, set to release on November 15 16:00:00, 2024 (UTC+8), as well as the soon-to-be-released USDE Flexible Staking.
Wintermute’s proposed solution is to activate a “fee switch”, which would allocate a portion of Ethena’s revenue directly to sENA holders.
Ethena Labs has proposed adding Solana (SOL) to the collateral mix of its synthetic stablecoin USDe, targeting a $100-200 million initial allocation.
Ethena community to vote on integrating Ethereal DEX to boost USDe stablecoin, with ENA holders receiving Ethereal tokens if approved.
Ethena Labs has confirmed that the newly launched UStb stablecoin is a “wholly independent product”, and independent of its already existing USDe stablecoin.
Despite the current market volatility and criticism about the risks associated with synthetic stablecoins, Ethena has taken steps to manage these challenges.
Grantees will be required to actively contribute to Bitcoin’s technical development, which may involve participating in pull requests, conducting code reviews, or contributing to the ongoing evolution of the Bitcoin Core software project.
In addition to the forced vesting structure, Ethena Labs has rolled out staking options for users looking to earn passive income within the ecosystem.