USDe’s market cap surged from approximately $5.33 billion on July 17 to over $9.3 billion by August 4. Over the span of less than 30 days, more than $3.1 billion in new USDe was minted. USDe operates fully on-chain via a synthetic structure.

USDe’s market cap surged from approximately $5.33 billion on July 17 to over $9.3 billion by August 4. Over the span of less than 30 days, more than $3.1 billion in new USDe was minted. USDe operates fully on-chain via a synthetic structure.

Source: https://cryptoslate.com/ethenas-9-5b-usde-could-now-challenge-usdcs-number-2-spot-by-2027/