Ethena (ENA)

Ethena’s synthetic stablecoin USDe has suffered a sharp contraction since the Oct. 10 market crash, with roughly $8.3 billion exiting the protocol as investors reassessed the risks tied to leveraged and synthetic-backed designs.

Binance, the world’s largest crypto exchange, has officially listed Ethena’s USDe for spot trading, opening trading pairs with both USDC and USDT on September 9, 2025.

Ethena Labs’ dollar-pegged stablecoin, USDe, has experience a meterioric rise in recent months, now standing as the third-largest after its market capitalization soared by 75% to approximately $9.3 billion in just three weeks.

Ethena Labs and WLFI partner to integrate sUSDe as collateral on WLFI’s Aave v3 platform, boosting liquidity and stablecoin adoption. Users gain rewards in sUSDe and WLF tokens, reflecting WLFI’s commitment to growth and asset integration.

Ethena Labs has refuted claims of unfairly staking 180 million ENA tokens in its crypto farming event. Amidst mixed reactions and a 6% drop in ENA’s value, the token has since rebounded. Ethena assured stakeholders of transparency and adherence to protocol.

Ambient Finance, the latest DeFi platform hit by front-end attacks, has regained control of its domain but awaits DNS updates. Users are urged to avoid the site until further notice. As cyberattacks surge, will these threats ever ease?

Elixir Labs is launching deUSD, a new decentralized stablecoin, in September to compete with Ethena’s USDe. It promises stability and yield from ETH staking, with $1 billion in liquidity and Pendle's support.

Usual, the RWA stablecoin protocol, announced the public launch of its mainnet with its native stablecoin, USD0, on 10 July. Since then, USD0's market cap has surged from $74.5 million to almost $130 million, placing it among the top 15 stablecoins.

Ethena made history with its USDe surpassing $3B just four months after launch. Its Sats campaign will continue until 2 September or until USDe supply reaches $5B. However, the ENA token has declined over 50% in the past month. Will Ethena's USDe follow the path of other high-profile stablecoin collapses?

Ethena Labs' USDe stablecoin hits $3B supply in record time, challenging DAI with unique mechanics and rapid adoption.