Ethena’s synthetic stablecoin, Usde, has risen to more than $ 13 billion in circulation less than one day after it was mentioned on Binance.
Defillama facts Shows the stock rose almost 2% to around $ 13.2 billion in 24 hours, making it the fastest growing Stablecoin in the past day.
This rapid expansion is underway in the last month, with the protocol adding more than $ 3 billion to its footprint after it crossed $ 10 billion in August. Usde is in particular the third largest stablecoin in the industry, which checks approximately 5% of the $ 287 billion stablecoin market.
In the meantime, the timing of this growth reflects various reinforcement factors that are designed to stimulate the growth of the Stablecoin.
In recent months, the market interest in Stablecoins has been accelerated after President Donald Trump had signed the Genius Act, the first federal law that offers a framework for these assets.
That regulatory clarity, in combination with the important yields of Ethena of approximately 10%, has drawn capital from investors who consider Defi returns to be more attractive than American treasurys.
The integration of Binance offers Usde $ 4B chance
This milestone comes when Binance has added Usde to its platform this week.
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Guy Young, founder of Ethena Labs, said The list highlights Binance’s rare decision to support an external project after extensive due diligence.
He described the integration as a turning point, with Binance’s $ 130 billion in assets and $ 40 billion in stablecoins that offer a huge distribution channel.
In view of this, Young said he expects use -adoption to Binance to eventually reflect his penetration on Bybit, where it is good for about 12% of the total dollar balance.
According to him:
“Usde -Penetration for USD assets on other CEXS is approximately ~ 12% that would match> $ 4.0 billion used on binance.”
According to the announcementThe token will be linked to Tether’s USDT and integrated in Binance Earn, allowing users to collect weekly dollar-tried rewards for simply keeping Usde on the stock exchange.
Later this month it will be accepted as collateral in the futures and eternal markets of Binance.
