Usde has set a new industry record by achieving $ 10 billion in total value in just 500 days (TVL), making it the fastest stablecoin in history to reach that milestone.
The protocol behind Usde, Ethena Labs, posted:
“Everyone wants to know what we would say if we had not achieved a $ 10 billion offer
I think we’ll never know “
The genius behind the rise of Usde
The fast climb of Usde has merged with the goods of the Genius Act, the guidance and the establishment of national innovation for the American Stablecoins Act, which represents the first extensive federal framework for Stablecoins in the United States.
The strict new rules set up on EXPENTS on July 18, 2025, including 1: 1 reserve requirements in assets with a low risk, robust federal supervision for large issues and strong consumer protection such as priority dependence rights in the event of failure.
The most impactful determination of the law, and the catalyst behind the rise of Usde, is the prohibition of regulated issues who pay returns on stablecoins, as Coinfund president Chris Perkins told CryptoSlate:
“Under Genius, Stablecoins do not pay interest to end users, and without interest, stablecoins are the assets. The offset. So holders will find a yield. And that is where Defi comes in. If the projects of the Treasury ministerie apply to maximize a variety of strategy.
This prohibition on revenue payments causes an in -depth redeers in the Stablecoin market. Capital that once stabbed to traditional, revenue paying stablecoins such as USDC is looking for alternatives and much of it has landed with Usde. As a prominent crypto trader, Cas Abbé, noted:
“The reason behind this growth is the approval of the Genius Act, which forbids emitting people to give yields on Stablecoins.
That is why big money has now been shifted to $ Usde, which offers a lucrative yield. “
Defi provides opportunities for fuel demand
Ethena Labs has been able to attract this question thanks to continuous revenue offers through decentralized finance (Defi) mechanisms, which fall outside the limitations placed on federally guided emennin. The result is a huge influx of institutional and store capital, so that many of its competitors are propelled beyond. The ENA Governance also experienced a price rating of more than 100% in the past month.
The milestone of $ 10 billion from Usde is proof of how dramatically the brilliant action has reformed the Stablecoin landscape. While the law tightens the controls and imposes new guarantees, it has also created opportunities for agile, Defi-Native Protocols to catch yield-hungry capital, which shows that legal shifts do not have to suppress innovation.
