Ethena USDe Records $119M Single-Day Inflow Amid Growth

• Ethena USDe supply rose 47.45% last month, hitting $3.75 billion, with $119M inflow recorded on November 21.
• The sUSDe stake rate climbed to 68.4%, its highest since February, reflecting growing investor engagement with Ethena’s ecosystem.

Ethena’s USDe supply has increased by 47.45% in the last month, reaching an all-time high of $3.75 billion. The stablecoin showed an amazing $119 million inflow on November 21, the highest single-day rise since mid-April.

This amazing increase shows a fresh faith in Ethena’s creative financial products, especially because it keeps confirming its existence in the synthetic stablecoin market.

Furthermore, the sUSDe stake rate rose to 68.4%, the highest level observed since mid-to-late February, therefore highlighting the growing popularity of the strategy among investors.

Ethena USDe supply has increased by about 47.45% in the past month to $3.75 billion, a record high. On November 21, about $119 million flowed into USDe, the highest single-day inflow since mid-April this year. At the same time, the sUSDe stake rate reached 68.4%, the highest…

— Wu Blockchain (@WuBlockchain) November 22, 2024

Ethena Ecosystem: Driving Growth and Liquidity in DeFi 

This most recent mark expands on Ethena’s well-known rapid expansion. Launched earlier this year, the synthetic dollar became one of the fastest USD-pegging assets to reach such a mark by crossing the $3 billion supply limit in record time.

Working behind USDe, Ethena Labs has created the protocol with an eye toward durability, scalability, and decentralization. Their method uses delta-hedging against staked Ethereum collateral to guarantee stability—a capability that appeals to a broad space of decentralized finance (DeFi) users.

The strong architecture of the system has surely contributed to the rising acceptance of sUSDe, the staking token allowing holders to profit from the revenue sources of the network.

These also imply that Ethena’s ecosystem is set to draw even more liquidity at the same time. While the rising sUSDe stake rate shows a willingness among users to interact more with the protocol, the significant inflow into USDe suggests a high demand for its stable and synthetic characteristics. Especially in a market full of rivals, this mix of elements shows the special value proposition Ethena presents compared to other stablecoin alternatives.

On the other hand, CNF has previously noted that, excluding labs and outside organizations, the Ethena Foundation guarantees all protocol income goes toward improving the ecosystem. The ENA fee switch activation is scheduled for November 30 in line with its dedication to openness and community government.