According to Cointelegraph, the synthetic dollar from Ethena, Usde, has reached an impressive $ 5.7 billion in the total cross-chain volume. Even more important is that USDE is now in third place under all synthetic dollars to tops of market capitalization.
The rise of Usde about chains
Launched as a synthetic stablecoin designed to keep its value stable about block chains, Usde is now moving 23 different networks via Layerzero. This broad access has contributed to users being delivered quickly, because people can send and use it on many platforms without any problems.
Because of this reach, reaching $ 5.7 billion in cross chain volume shows more than just strong acceptance. It also proves that Usde has become a trusted option to move the value smoothly between chains, so that many of the limits are avoided with which traditional stablecoins are confronted.
Climb the ranks: what being third means
Reaching third place among synthetic dollars is a major problem. It means that Usde has moved beyond the early test phase and is now a serious player in the market.
It now stands next to better -known projects such as DAI and Frax. This rapid climb emphasizes how synthetic assets find a place in the crypto-space due to flexible, collateral-supported options that are not directly dependent on money issued by the government.
Why users choose
There are several clear reasons why people use usde more and more:
- Due to the cross-chain support, users can easily move funds between many block chains.
- The synthetic design, supported by a mix of assets, helps to keep its price stable.
- The Delta-neutral approach to the protocol works to limit market fluctuations, giving users more stability.
Moreover, Usde has the support of well -known investors such as Dragonfly Capital and Binance Labs. This support adds confidence and makes it easier for new users to trust the project.
What is the next step for the synthetic dollar space?
Looking ahead, various trends are worth seeing:
- Growing adoption-to-use more people use cross-chain tools, Usde could see even faster growth.
- More competition – projects such as DAI and Frax will work hard to maintain their positions.
- New functions – Usde can add merit options or add a link with more credit and trading platforms.
- Further regulation – As these tokens grow in value, rules and supervision can become stricter.
Summary
Usde van Ethena has reached an important milestone: $ 5.7 billion in cross chain volume and a strong third place among synthetic dollars. Thanks to the broad network range, trusted investors and steady growth in the Defi world, it is a project that is worth seeing. As synthetic dollars become more popular, Usde can help shape the next phase of digital finances.