Market Shake-Up: USDE Climbs to $6B as USD0 Surpasses $1B Supply
Ethena’s USDE and Usual’s USD0 are making waves in the $204 billion stablecoin market. USDE, a yield-bearing stablecoin offering up to 12% APY, has grown its supply by 61.3% since November, reaching a market value of $5.93 billion to become the third-largest stablecoin.
Meanwhile, newcomer USD0 by Usual Labs has surged 246% in market supply within 30 days, hitting $1.41 billion and ranking as the sixth-largest stablecoin. These developments reflect growing demand for yield-bearing and fiat-backed stablecoins, though challenges like governance and competition will shape their long-term success in the dynamic crypto landscape.
Clever Robot News Desk 23th December 2024
