- Stablecoin Surge: The stablecoin sector witnesses a remarkable rise, expanding by $2.5 billion in the past ten days.
- Key Players: Ethena, FDUSD, and other leading stablecoins drive the market to a valuation of $140.82 billion.
- Ethena’s Dominance: Ethena USDE leads with a substantial 224.9% increase in supply since Jan. 24.
Stablecoin Boom Continues:
In the initial half of February, the stablecoin market experienced a surge, adding $1.7 billion to its value. This momentum continued, resulting in a remarkable increase exceeding $2.5 billion over the last ten days. Notably, Ethena USDE, FDUSD, and other major stablecoins played pivotal roles in driving this growth.
Ethena USDE Dominates:
Amidst the stablecoin expansion, Ethena USDE stands out, showcasing a staggering 224.9% surge in supply since January 24. This surge propels its market capitalization to $427.14 million, securing its position as the eighth-largest fiat-pegged crypto asset.