Ethena’s USDe Boom Fuels a Tether USDT Surge, Says Founder

TL;DR The founder of Ethena stated that the issuance of USDe drives demand for USDT, since it covers 70% of the collateral in perpetual swaps. Young argued that in the stablecoin market it’s unfeasible to combine high liquidity with high yields, which explains the differences between both protocols. Ethena positioned USDe as the third-largest stablecoin. . . source: https://crypto-economy.com/ethenas-usde-boom-fuels-a-tether-usdt-surge-says-founder/