Ethena’s USDe hits $3 billion supply in four months, surpasses FDUSD

USDe is a dollar-pegged stablecoin created by Ethena Labs. It generates returns by staking ETH and managing derivatives.

As of June 2, USDE’s market valuation reached approximately $3.02 billion, surpassing First Digital’s FDUSD with its $2.9 billion supply. This milestone has made USDE the fourth-largest stablecoin