$ENA

A report from The Block stated that the market capitalization of the stablecoin USDe, associated with Ethena, has reached $9.3 billion, representing a 75% increase over the past three weeks, making it the third largest stablecoin after USDT and USDC. The total value locked (TVL) is $10 billion, placing it seventh in the DeFi sector. Brandon Kay, a research analyst at The Block, explained, "It seems that the demand for USDe has increased following the passage of the stablecoin regulation bill in the United States, GENIUS." Previously, Ethena Labs announced that it had formed a custody partnership with Anchorage Digital, enabling it to comply with the U.S. GENIUS Act.