USDe Etherna Shakes up Stablecoin Market with $2 Billion Surge, Threatening the Future of USDT and USDC

Quick Summary:

What sets USDe apart from its counterparts is its unique approach to stability, backed not by physical US dollars but rather by cryptocurrencies like ETH and BTC.

USDe achieves this through funding payments from short positions on exchanges and ETH staking rewards.

A newcomer has swiftly risen to prominence in the Stablecoin market, challenging the dominance of traditional players like USDT and USDC.

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Article Details

Author / Journalist: Mustafa Mulla

Category: Crypto

Markets: United States

Topics: Usdt Usde Been Stablecoin Crypto Billion Blockchain Market Usdc Stability

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-17 @ 08:20:58 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 371 words

Reading Time: 3 minutes read

Sentences: 34 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 20712166

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Main Topics: Crypto

Official Website: coinpedia.org

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Year Established: 2016

Headquarters: United States

News Last Updated: 10 hours ago

Coverage Areas: United States

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Publication Timezone: GMT +8:00

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