📶⏏️Ethena surpassed $500 million🔺 in cumulative revenue as synthetic stablecoins gain traction🔁◀️

⚪Ethena Labs announced on Thursday that its Ethena protocol has achieved cumulative revenue exceeding $500 million.🔺 The growth of revenue and the circulating supply of its synthetic stablecoin,🔺 Ethena USD (USDe),🔺 has accelerated since July🔺, with the share of synthetic stablecoins in the market increasing.✔️📝

⚪Ethena Labs shared the news via a post on X🔺, stating that last week🔺, the protocol’s revenue reached $13.4 million and the supply of USDe hit an all-time high of $11.7 billion.✔️📉

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