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Ethena’s USDe Grew to $2 Billion in 7 Weeks. Is It Safe?

Apr 6, 2024

Ethena's synthetic dollar, USDe, hit a $2 billion market cap in just seven weeks, raising eyebrows.

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    CoinDesk is the world leader in news, prices and information on bitcoin and other digital currencies. We cover news and analysis on the trends, price movements, technologies, companies and people in the bitcoin and digital currency world.
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    The CoinDesk Bitcoin Price Index (XBX) is the world’s leading reference for the price of bitcoin, used by the largest institutions active in crypto assets. It is the crypto market standard, benchmarking billions of dollars in registered financial products and pricing hundreds of millions in daily over-the-counter transactions. Built for replicability and reliability, in continuous operation since 2014, the XBX is relied upon by asset allocators, asset managers, market participants and exchanges. The XBX is the flagship in a portfolio of single- and multi-asset indices offered by CoinDesk.

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    Logo of BTC
    BTC
    Bitcoin
    $58,579.87
    -1.20%
    Logo of ETH
    ETH
    Ethereum
    $2,489.94
    -1.42%
    Logo of BNB
    BNB
    Binance Coin
    $526.80
    -2.52%
    Logo of SOL
    SOL
    Solana
    $133.96
    -3.29%
    Logo of XRP
    XRP
    XRP
    $0.56059458
    -0.98%
    Logo of DOGE
    DOGE
    Dogecoin
    $0.10022867
    -1.42%
    Logo of TON
    TON
    Toncoin
    $5.43
    0.85%
    Logo of TRX
    TRX
    Tron
    $0.15641379
    -1.92%
    Logo of ADA
    ADA
    Cardano
    $0.34424594
    -1.52%
    Logo of AVAX
    AVAX
    Avalanche
    $22.50
    -3.47%

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