USDe

On-chain data reveal that the third quarter of 2025 brought historic growth in stablecoins. Net inflows surged by an astonishing 324% – jumping from $10.8 billion in Q2 to $45.6 billion in Q3. The main drivers were USDT, USDC, and the rapidly growing USDe from Ethena.

Tether, USDC, and USDe Lead the Record Growth
Analytics platform RWA.xyz reported that more than $46 billion poured into stablecoins over the past 90 days. Tether (USDT) took the largest share with $19.6 billion in inflows. Circle’s USDC followed with $12.3 billion, while the fast-rising USDe added another $9 billion.

Other issuers contributed smaller amounts. PayPal USD (PYUSD) increased by $1.4 billion, MakerDAO’s USDS added $1.3 billion, and both Ripple USD (RLUSD) and USDtb from Ethena recorded steady gains throughout the quarter.
DeFiLlama highlighted that Tether had already been the market’s primary growth engine since spring – boosting circulation by $9.2 billion in Q2 and then recording a massive $19.6 billion in Q3. USDC showed a dramatic turnaround, climbing from just $500 million in April–June to $12.3 billion. Ethena’s USDe jumped from $200 million to $9 billion in just one quarter.

Ethereum Remains the Hub of Stablecoin Activity
On-chain statistics confirm Ethereum as the dominant network for stablecoins, hosting over $171.3 billion in circulation. Tron ranked second with $76 billion, while Solana, Arbitrum, and BNB Chain collectively accounted for $29.7 billion.
Tether continues to dominate the market with nearly 59% share. Circle’s USDC holds around 25%, while Ethena’s USDe has already captured almost 5% of the market.

Market Cap Climbs While User Activity Declines
The total market capitalization of stablecoins increased by more than 5% in the past month, reaching nearly $297 billion. However, a paradox emerged – the number of active monthly addresses dropped by 22.6% to 26 million. Stablecoin transfer volume also declined year-over-year by 11% to $3.17 trillion.
This suggests that although record amounts of capital are flowing into stablecoins, their use in everyday transactions is not expanding at the same pace.

DeFi Spotlight: Aster Outpaces the Giants
Beyond stablecoins, protocol Aster has drawn attention. As of Monday, it became the world’s second-highest protocol by trading fees, generating $14.33 million in 24 hours – surpassing Circle and Uniswap.
In the DEX trading volume rankings, Aster climbed to 11th place with nearly $207 million in daily trades.

This development confirms that stablecoins are becoming a critical pillar of the crypto ecosystem. While capitalization grows sharply, the drop in user activity raises questions about whether stablecoins are shifting from a tool for everyday payments into a more institutional store of value.

#Stablecoins , #CryptoMarkets , #USDT , #USDC , #USDe

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The Binance ecosystem is entering an exciting new phase of reward-driven growth, unveiling a suite of incentives aimed at empowering users and strengthening long-term engagement. The newly launched USDe Rewards Program offers a promotional 12% APR through October 2025, creating a compelling opportunity for stablecoin holders seeking passive income in a volatile macroeconomic environment. Alongside this initiative, Binance has expanded its HODLer Airdrops roster, adding Falcon Finance (FF), Avantis (AVNT), 0G, and Plasma (XPL) , projects positioned at the forefront of DeFi, L1 infrastructure, and liquidity innovation.
The inclusion of Falcon Finance stands out as a key highlight. With the FF token listing scheduled for September 29, Binance users who maintained eligible balances during snapshots taken through September 16 will qualify for airdropped rewards. This rollout reflects Binance’s commitment to aligning ecosystem incentives with user participation and long-term value creation. By integrating staking-based eligibility mechanisms tied to BNB balances, the HODLer Airdrops program continues to reward loyal holders while simultaneously helping to reduce short-term selling pressure. The addition of loanable assets such as LINEA and HOLO, along with a new Bitlight listing, underscores Binance’s broader strategy to consolidate its ecosystem and enhance asset utility across both spot and lending markets.
In the current macro backdrop, defined by shifting interest rates, liquidity constraints, and renewed appetite for yield, Binance’s approach aligns with the global trend toward yield-seeking behavior. The ability to earn 12% APR on USDe without asset-locking constraints makes it an attractive option for investors seeking flexible returns. Furthermore, the platform’s clear regulatory framework around staking and reward distribution provides participants with confidence and transparency. As regulatory clarity grows, such frameworks are poised to drive broader institutional and retail engagement, reinforcing Binance’s leadership in responsible innovation.
For traders and investors, these developments open up multiple strategic opportunities. Beyond staking, maintaining minimum BNB balances ensures continued access to future HODLer Airdrops, positioning users to benefit from early-stage project exposure. The upcoming Falcon Finance (FF) trading launch, featuring USDT, USDC, and BNB pairs, may also present short-term arbitrage and liquidity strategies, especially around initial price discovery phases. Meanwhile, newly loanable assets like Plasma (XPL) and Avantis (AVNT) expand the toolkit for users pursuing advanced DeFi strategies, leveraging yield-bearing positions or collateralized lending.
Community sentiment has been notably positive, with users praising the 12% USDe APR as a “game-changer” for stablecoin holders navigating uncertain markets. Enthusiasm is also building around 0G, recognized as a “Layer-1 blockchain with robust infrastructure backing.” However, some participants have voiced caution around token dilution, a reminder that reward-based expansions must be balanced with sustainable tokenomics. Binance’s ongoing efforts to combine innovation with prudent design suggest that these risks are being actively managed, setting the stage for long-term ecosystem health.
To Conclude: Binance’s latest reward initiatives reflect a well-calibrated strategy for user empowerment, ecosystem growth, and sustainable yield generation. With the USDe Rewards Program, new HODLer Airdrops, and expanded loanable assets, the exchange continues to shape a more inclusive and opportunity-rich environment for crypto participants. As the platform evolves in sync with global market trends, Binance remains a cornerstone for those seeking both innovation and stability in the digital asset landscape.
#USDe # #HODLerAirdrops #CryptoRewards #DeFi #BNB
$AVNT $XPL $0G