Per our technical indicators, the current sentiment is Bearish while the Fear&Greed Index is showing 60 (Greed). Ethena recorded 15/30 (50%) green days with 12.60% price volatility

#ethena is building a synthetic dollar protocol called USDe that aims to be a crypto-native alternative to traditional stablecoins. The protocol uses crypto assets like ETH and BTC as collateral, combined with derivatives positions to maintain stability. Unlike USDC or USDT which rely on traditional banking, USDe operates entirely within the crypto ecosystem while offering users potential rewards through staking. Since its launch in early 2024, USDe has gained significant traction in the DeFi ecosystem, maintaining its peg and attracting substantial liquidity. The protocol's innovative approach combines traditional financial concepts with blockchain technology to create a more accessible and efficient stablecoin solution.