Ethena Labs' Stablecoin USDe Circulation Reaches Over 3.6 Billion

According to BlockBeats, Ethena Labs' Ethereum-based stablecoin, USDe, has surpassed a circulation of 3.6 billion, based on Etherscan data. USDe maintains price stability through 'delta neutral' hedging across centralized and decentralized platforms, and can be created using US dollars, ETH, or liquidity pledge tokens as collateral.

The stablecoin market has seen significant growth recently, with many companies launching their own versions. Ethena Labs' USDe is a notable new entrant, and its rapid circulation growth highlights the strong demand for stablecoins.