#USDe
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The supply of USDe from Ethena Labs has exceeded 6 billion, reaching a historic high.
The issuance of stablecoins has skyrocketed, indicating strong demand for DeFi, especially after ENA surged 27% to break the $0.5 mark.
With U.S. Treasury Secretary Yellen stating that the dollar is going on-chain, I believe that favorable stablecoin regulation will boost the entire sector, and USDe may become the next Tether killer.
The risk is that rapid issuance can easily attract hackers; the theft of $44.2 million from CoinDCX serves as a cautionary tale.