USDe Stablecoin Overtakes USDT and USDC in Inflows
Ethena Labs’ USDe tops 2-week net inflows, surpassing USDT and USDC for the first time.
- USDe sees highest 2-week net inflows.
- First time surpassing USDT and USDC.
- Signals rising demand for yield-bearing stablecoins.
For the first time, a yield-bearing stablecoin has outpaced industry giants USDT and USDC in net inflows. Ethena Labs’ USDe stablecoin inflows led the market over the past two weeks, marking a significant shift in the stablecoin landscape.
Traditionally, stablecoins like Tether’s USDT and Circle’s USDC have dominated liquidity and adoption. Their position seemed unshakable, but recent data shows USDe attracting more capital in a short time frame — a milestone for a project that aims to combine stability with yield generation.
Why Investors Are Turning to USDe
Unlike conventional stablecoins, USDe offers a yield-bearing model, allowing holders to earn passive returns while maintaining a stable value pegged to the US dollar. This combination has drawn attention from DeFi users seeking safer yet profitable options in a volatile crypto market.
Ethena Labs has positioned USDe as a DeFi-native alternative to traditional stablecoins, integrating with decentralized exchanges, lending protocols, and other on-chain services. The appeal lies in giving users more than just price stability — it’s about unlocking utility and yield without leaving the crypto ecosystem.
What This Means for the Stablecoin Market
If USDe can maintain its momentum, it may signal a broader trend toward yield-bearing stablecoins. While USDT and USDC remain dominant in total market capitalization, their inability to offer native yield could make them less attractive in the long term to certain investors.
The competition could push major issuers to innovate, potentially reshaping the future of digital dollars in DeFi. For now, USDe’s surge in net inflows stands as a milestone that challenges the long-standing dominance of the old guard.
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