USDE surpassed FDUSD to become the fourth largest stablecoin (market value exceeded US$3 billion)

[USDE surpasses FDUSD to become the fourth largest stablecoin] Golden Finance reported that this weekend, Ethena’s synthetic U.S. dollar stablecoin USDE reached a market value of US$3 billion. As of June 2, 2024, USDE’s market cap was approximately $3.02 billion, surpassing FDUSD’s $2.9 billion. After crossing the $3 billion mark, USDE has now become the fourth largest stablecoin. Approximately 13,238 unique addresses hold USDE, and 395,430 transfers have been made to the token since its launch. Ethena’s smart contract address holds the most tokens, 1.21 billion USDE, accounting for 40.16% of the total supply, while Ethena’s LP pledge address holds the second largest amount, 511.2 million USDE, accounting for 40.16% of the circulating supply. 16.92%.

This weekend, Ethena’s masterpiece, the synthetic U.S. dollar stablecoin USDE, made its debut in the digital currency market. Its market value successfully exceeded the US$3 billion mark, reaching an eye-catching new height. This feat not only demonstrates the outstanding technical strength of the Ethena team, but also reflects the importance and growing market demand of stablecoins in the digital currency field.

As of June 2, 2024, the market value of USDE has firmly stood at the peak of approximately US$3.02 billion. This number not only exceeds FDUSD’s market value of US$2.9 billion, but also exceeds FDUSD’s market value of US$2.9 billion. Pushing USDE to the throne of the fourth largest stable currency. The achievement of this achievement is undoubtedly the result of the hard work and continuous innovation of the Ethena team, and also reflects the market's wide recognition and high trust in USDE.

Looking further at the holdings of USDE, we found that approximately 13,238 unique addresses hold this stablecoin. This number not only shows the wide distribution of USDE and the diversity of the holder group, but also indicates that with its huge future market potential. Since the launch of USDE, the token has completed a whopping 395,430 transfers. This high-frequency transaction activity fully proves USDE’s activity and liquidity in digital currency transactions.

Among all the addresses holding USDE, Ethena’s smart contract address is undoubtedly the biggest winner. The number of USDE held by this address is as high as 1.21 billion, accounting for 40.16% of the total supply. This huge number not only highlights Ethena's deep confidence in its own products, but also reflects its leading position in the stablecoin field. Followed closely by Ethena’s LP pledge address, the number of USDE held by this address is 511.2 million, accounting for 16.92% of the circulating supply. This number is also eye-catching and demonstrates Ethena’s strong influence in the stablecoin ecosystem. force.

In general, after Ethena’s USDE exceeded the US$3 billion market value mark, it not only consolidated its position in the stable currency market, but also demonstrated its broad prospects and unlimited possibilities in the field of digital currency. We have reason to believe that with the continued efforts of the Ethena team, the market value and influence of USDE will continue to rise, bringing more vitality and opportunities to the digital currency market.

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