PANews, December 23 news, according to a report by 10x Research, the synthetic stablecoin USDe of Ethena has seen its market capitalization evaporate by about $8.3 billion since the market crash on October 10, dropping from $14.7 billion on October 9 to about $6.4 billion currently, nearly Halving. This big dump reflects a sharp decline in investor confidence in leverage and synthetic collateral models. The market crash on October 10 was the largest liquidation event in the history of the crypto market, resulting in over $19 billion worth of crypto positions being liquidated, with a total market capitalization evaporating by approximately $1.3 trillion, accounting for nearly 30% of the total market capitalization at the time. During this period, the USDe briefly de-pegged to around $0.65, but Guy Young, founder of Ethena Labs, stated that this brief de-pegging was due to an issue with the internal oracle of the exchange, and not a problem with the protocol or collateral assets. Currently, the price of USDe has recovered.

Odaily News Ethena synthetic stablecoin USDe's market capitalization has shrunk by nearly half since the "1011 crash", with a net outflow of approximately 8.3 billion USD, according to CoinMarketCap data. As of October 9, the market capitalization of USDe is close to 14.7 billion USD. In just over two months, its market capitalization has fallen to around 6.4 billion USD. (Cointelegraph)

Odaily Planet Daily News: Aave Labs has initiated an ARFC proposal on the governance forum, proposing to deploy Aave V3 on the MegaETH chain to support bridged btc.b, ETH, USDM, USDT0, cUSD, iTRY, wstETH, ezETH, rsETH, USDe, sUSDe, stcUSD, as well as native

Foresight News reports that HyENA, a USDe-margined perpetual contract DEX built on the Hyperliquid HIP-3 standard, is now open for testing. The project is primarily contributed by Based and allows users to trade using USDe as collateral while earning USDe yields. The HyENA market is secured by Valantis and stHYPE, and features a liquidity provider vault HLPe managed by Upshift. In its initial phase, HyENA operates on an invitation-only basis, launching with trading pairs such as HYPE-USDE, BTC-USDE, ETH-USDE, and SOL-USDE. It has also launched a two-week fee rebate migration campaign and offers a first-month 12% incentive.

PayPal's PYUSD stablecoin market cap has soared from $1.2 billion in September to approximately $3.8 billion, with supply and trading volume increasing by 113% and 150%, respectively. Despite being relatively new, its growth rate is impressive, second only to Ethena's USDe, mainly benefiting from PayPal's extensive network.

ChainCatcher news, in the past 24 hours, the net outflow ranking of Spot funds in encryption is as follows: ETH net outflow of 126 million USD; XRP net outflow of 116 million USD; ZEC net outflow of 18.2 million USD; COMP net outflow of 11.26 million USD; DOGE net outflow of 10.9 million USD. The net inflow ranking of Spot funds in encryption is as follows: BTC net inflow of 21 million USD; USDE net inflow of 5.26 million USD; TRX net inflow of 5.21 million USD; AAVE net inflow of 3.28 million USD.

The total Lock-up Position value of Ethena's synthetic stablecoin USDe dropped from 14.8 billion USD in October to 7.6 billion USD, a decline of over 50%. The reason for the drop is the Close Position of leveraged circular strategies in the DeFi protocol, resulting in USDe yields being lower than borrowing costs. However, its usage continues to rise, with on-chain transaction volume exceeding 50 billion USD.

The total lock-up position of Ethena's synthetic stablecoin USDe has recently decreased significantly, but its usage continues to rise, showing the complexity of DeFi yield-bearing stablecoins. The current annual percentage rate of USDe is approximately 5.1%, which has dropped since the beginning of the year, reflecting changes in market conditions and leverage demand.

Odaily News Anchorage Digital announced a rewards program for holders of USDtb and USDe, with rewards distributed by an independent entity, Anchorage Digital Neo Ltd., to maintain compliance under the framework of the GENIUS Act, which prohibits interest payments on stablecoins; this structure is designed to allow institutions to operate within Anchorage.

According to a report by Golden Finance, data from the DeFilama platform shows that as of November 24, the supply of USDe has exceeded 7.4 billion, reaching 7.416 billion, setting a new historical high.

Ethena Labs has partnered with Nunchi, which will create Perptual Futures based on the yield market, allowing users to participate in trading such as RWA Intrerest Rate. Part of the revenue will support the Ethena ecosystem, and there may be a Token Airdrop. At the same time, users can trade with USDe to receive transaction fee rebates and funding rate discounts. Users who stake nHYPE can also receive 20 times the Ethena rewards.

Odaily News The governance forum of the decentralized lending protocol Venus has released a proposal to eliminate three markets in the BNB Core Pool: BETH, MATIC, and PT-USDe-30OCT2025. BETH: The proposal suggests completely phasing out this market and setting the loan-to-value (LTV) ratio to 0%. This market has suspended lending and supply in 2023. MATIC: Since the MATIC token has been replaced by the POL token, and Venus currently has no plans to support POL, the proposal suggests setting its loan-to-value (LTV) ratio, supply limit, and borrowing limit to 0, and suspending supply and lending. At the same time, its oracle machine will be updated to Chainlink $POL. PT-USDe-30OCT2025: This market has been phased out in 2025.

According to Gate News bot, on November 11, 2025, Gate platform announced that the on-chain coin earning quick redemption feature will officially launch on November 11 at 11:00 (UTC+8). This feature allows investors to receive redemption funds within 10 minutes after submitting a redemption request. The first batch of supported staking products includes staking products for a total of 12 tokens: TIA, STRK, TRX, ZETA, XTZ, APT, AVAX, EGLD, BERA, AAVE, USDE, and KSM. The quick redemption fee is calculated dynamically, with the formula being: redemption amount × redemption period × base annualized return rate / 365 × redemption coefficient, where the redemption coefficient will be dynamically adjusted based on market conditions. This feature requires the client version to be upgraded to V7.28.0 or higher to be used.

Gate News Bot news, on November 4th, according to CoinMarketCap data, as of the time of writing, ENA (Ethena) is currently priced at 0.34 USD, having fallen by 6.85% in the last 24 hours, with a high of 0.50 USD and a low of 0.33 USD. The current market capitalization is approximately 2.409 billion USD, a decrease of 177 million USD compared to yesterday. Ethena is an internet economy platform focused on digital dollars. The project offers two products, USDe and sUSDe, with an annual yield of 19% for sUSDe. Ethena is currently live on 24 chains and provides resources such as a transparency dashboard and documentation. Users can participate in USDe-related activities through the Ethena app. Recent important news about ENA: 1️⃣ **USDe market share contraction** Ethen

BlockBeats news, on November 2, according to DefiLlama data, the total market capitalization of stablecoins is currently reported at 307.408 billion USD, with a decrease of 0.45% over the past week. Among them, the USDe issued by Ethena decreased by 11.55% over the past week, and USDC decreased by 0.63%.

BlockBeats news, on October 30, according to DefiLlama data, the current TVL of SUSDE (Ethena USDe) is $5.098 billion, with an Annual Percentage Rate (APY) of 4.41%, and an unstake period of 7 days. The TVL of SUSDS (Sky Lending) is $3.199 billion, with an APY of 4.5%. The TVL of Maple Finance's Syrup USDC is $2.861 billion, with an APY of 7.19%. ZEROBASE currently has a TVL of $370 million, with a stablecoin APY of 12%, and an unstake period of 7 days.

Gate News Bot news, on October 29, according to CoinMarketCap, as of the time of writing, ENA (Ethena) is currently priced at 0.46 USD, having fallen by 5.80% in the last 24 hours, with a high of 0.53 USD and a low of 0.42 USD. The current market capitalization is approximately 3.326 billion USD, a decrease of about 205 million USD compared to yesterday. Ethena is a platform that provides digital dollar services aimed at offering digital dollar solutions for the internet economy. Its main products, USDe and sUSDe, provide users with global instant access to dollar savings accounts, with the current 30-day annualized yield of sUSDe at 4.1%. Ethena emphasizes transparency by providing real-time asset support information, weekly reserve proofs, and monthly custodian proofs. The platform also collaborates with multiple DeFi projects and exchanges to expand its ecosystem.

Odaily News The issuance scale of the stablecoin USDe under Ethena has fallen below 10 billion, currently reported at 9.79 billion, a decrease of over 5 billion compared to its peak of nearly 14.84 billion.

According to Foresight News, the Perptual Futures exchange Ethereal has officially launched its Mainnet Alpha version, which will support Margin Trading using USDe as collateral. With the launch of the Mainnet, Season 1's Epoch 1 phase will also come to an end. On October 30th at 7:59, eUSDe holders will continue to receive Ethereal points. Starting from Epoch 2, point distribution will occur weekly.

Foresight News reports that according to PhoenixNews, the founder of Ethena stated that Ethena plans to launch two new products in the next three months, with potential scales comparable to the stablecoin USDe.

PANews October 20 news, Ethena Labs founder Guy Young posted on the X platform: "Over the past two years, the number of contributors to Ethena has remained roughly stable, around 20 to 25 people. Now, we are making our first substantial team expansion, setting up 10 new positions in engineering and product areas for two new business lines and products that will be launched in about 3 months. Both of these initiatives have the potential to grow to a scale comparable to USDe."

BlockBeats news, on October 20, Ethena Labs officially announced on social media that the PT tokens of USDe and sUSDe have been launched on the Aave Plasma platform, with a supply limit of 200 million USD for each token. Given that the borrowing Intrerest Rate for USDT remains around 4%, Plasma has now become the best on-chain venue for users to obtain leveraged PT positions through Aave. Multiple rounds of quota increases are expected in the near future.

Golden Finance reports that Greg Cipolaro, Global Research Director at NYDIG, stated that USDC, USDT, and other stablecoins like USDe are not truly pegged to the US dollar but fluctuate based on market supply and demand. Essentially, they can only be considered a type of market trading tool. The so-called "stability" of stablecoins is actually determined by arbitrage and market dynamics. For instance, when it falls below 1 USD, traders buy, and when it rises above 1 USD, traders sell. Users often misunderstand the true risks associated with these assets.

Gate News Bot news, on October 13, according to CoinMarketCap data, ENA (Ethena) is currently priced at 0.40 USD, with a rise of 10.94% in the last 24 hours, reaching a high of 0.61 USD and a low of 0.19 USD. The current market capitalization is approximately 2.889 billion USD, an increase of 285 million USD compared to yesterday. Ethena is a digital dollar platform designed for the internet economy. Its token USDe currently has a supply of 12.6 billion, with an average annual yield of 19%. Ethena also offers the sUSDe token, where users can earn a 5.5% annual yield by staking USDe. The platform has attracted 832,000 users and covers 24 blockchain networks. Ethena emphasizes transparency, providing real-time asset support information, weekly reserve proofs, and monthly custodian certifications. EN

Golden Finance reports that the CEO of OKX stated that Ethena Labs excels in portfolio and Risk Management, and its transparency should set an industry benchmark. OKX has launched the ENA Token and is considering support for USDe, but USDe should not be viewed as a 1:1 stablecoin, rather as a tokenized Hedging fund, and its inherent risks should be taken into account.

Gate News Bot news, on October 13, according to CoinMarketCap, as of the time of writing, USDe (Ethena USDe) is currently at 1.00 USD, with a 24-hour pump of 0.02%, reaching a high of 1.00 USD and a low of 0.99 USD. The current market capitalization is approximately 12.607 billion USD, an increase of 1.99 million USD compared to yesterday. USDe is the digital dollar token launched by Ethena, aimed at providing a stable digital currency for the internet economy. Users can earn an annual yield of 5% through sUSDe. The supply of USDe has reached $10.42 billion and covers 24 blockchain networks. USDe has applications in various fields including DeFi, exchanges, and institutions, supporting functions such as deposits, lending, and margin trading. Ethena also provides real-time asset configuration information and weekly reserve proofs for transparency.

Golden Finance reported that the founder of Ethena Labs stated on the X platform that the two scenarios concerning the Oracle Machine are market price misalignment and Collateral depreciation, the latter of which has not occurred in USDe. Although there is controversy in the DeFi market regarding USDe's peg to USDT, it is believed that this practice helps to avoid liquidation risks. Ethena provides on-demand proof of reserves to ensure that minting and exchange functions operate normally during market turbulence.

Ethena Labs released a reserve proof in response to market doubts, confirming that USDe has an over-collateralization of 66 million USD, and emphasized transparency. The founder denied rumors of emergency fundraising, stating that they are false information.

Vida, the founder of Equation News, revealed that market arbitrage opportunities have led to massive liquidations. He analyzed that the liquidation of USDE circular loans and low liquidity triggered a price collapse, further impacting the positions of market makers, ultimately causing extreme price fluctuations in small coins.

The founder of dForce, Mindao, pointed out that the current market big dump is similar to the Luna incident, as large trading platforms accept illegal stablecoins as high LTV collateral, leading to risk transmission. He emphasized that illegal stable assets combined with high collateral rates and market price feeds further amplify the risks, especially as LSD-type assets face the same issues.

Golden Finance reported that Mirror Tang, the founder of ZeroBase, responded on social media to the statement that "Zerobase converts stablecoins to USDe and stakes them to seize arbitrage opportunities," stating that ZeroBase has not converted stablecoins to USDe and has not staked USDe.

BlockBeats news, on October 11, Guy Young, the founder of Ethena Labs, responded on social media to the rumors that "Ethena is urgently raising funds to avoid a repeat of the LUNA incident", stating that this is completely false information.

Golden Finance reported that Ethera Labs further clarified in a post on the X platform, confirming that no positions have been subject to automatic reduction (ADL). USDe has not held any short positions on the DEX. According to previous news, USDe experienced a decoupling and once dropped to 0.66 USDT.

BlockBeats news, on October 11, Binance officially published an article providing the latest updates to users regarding the recent issue of price decoupling involving USDE, BNSOL, and WBETH tokens. This incident resulted in the liquidation of some users' asset positions. The official statement mentioned that their team is currently conducting a thorough review of the affected users, related liquidation details, and subsequent compensation plans. Meanwhile, the official team is also strengthening the Risk Management mechanism to drop the likelihood of similar incidents occurring again.

Crypto KOL Dovey speculates that the recent big dump may be due to a major institution getting liquidated on the Binance platform. The price of USDe on Binance once fell to 0.6, showing the price differences between platforms and the differentiation in token volatility.

Ethena officials stated that due to market turbulence and large-scale liquidations, the secondary market price of USDe fluctuates, but the minting and redemption functions continue to operate and remain over-collateralized. The market futures trading price is lower than the spot price, resulting in additional gains for USDe and an increase in the over-collateralization rate.

BlockBeats news, on October 11, Ethena confirmed that the minting and redemption functions are normal, and USDe is in an over-collateralization state due to additional unrealized PNL (UPnL).

Golden Finance reports that the stablecoin USDE has experienced a serious de-pegging situation, briefly falling to a low of 0.6567 USD, currently reported at 0.93 USD, with a maximum drop of over 34% in 24 hours.

Odaily News Market data shows that USDE has depegged to 0.6666 USDT.

PANews, October 1st, news: CEX.io's latest research report shows that the transfer volume of stablecoins reached a record $15.6 trillion in the third quarter of 2025, with about 71% of the trading activity related to automated trading Bots. Although Bots trading is dominant, the report also points out that retail investors (with single transactions below $250) have reached a historic high in stablecoin usage in the third quarter. The report predicts that 2025 will be the most active year for retail stablecoin usage in history, with total annual trading volume expected to exceed $60 billion. In terms of net inflows, stablecoins also performed strongly in the third quarter, recording a total net inflow of over 46 billion USD. Among them, USDT leads with nearly 20 billion USD, followed closely by USDC and USDe with 12.3 billion USD and 9 billion USD respectively.

Binance Wealth Management has launched a new limited-time promotion, allowing users to enjoy an Annual Percentage Rate of up to 12% by holding USDe and subscribing to designated fixed-term products. The promotion runs from September 22, 2025, to October 10, covering multiple products with different yields, attracting users to invest.

BlockBeats news, on October 1st, the Spot and Perptual Futures trading platform Ethereal built on USDe announced on social media that the Ethereal Mainnet Alpha will be launched on October 20th.

Golden Finance reports that Ethena Labs has launched USDe and sUSDe on Plasma, with the launch occurring on September 25, synchronized with the Plasma Mainnet test version. At the time of the launch of the Plasma Mainnet, it already had over $2 billion in stablecoin Liquidity and integrated over 100 projects.

Gate News Bot news, on September 26, according to CoinMarketCap data, ENA (Ethena) is currently priced at 0.58 USD, falling by 1.48% in the last 24 hours, reaching a high of 0.68 USD and a low of 0.55 USD. The current market capitalization is approximately 3.993 billion USD, a decrease of 59.839 million USD compared to yesterday. Ethena is an internet economy platform focused on digital dollars. Its main product, USDe, has a supply of $10.42 billion, while the supply of USDtb is $1.46 billion. The platform offers a 5% sUSDe APY, with an average sUSDe APY of 19% in 2024. Ethena currently has 765,000 users and covers 24 blockchains. The platform emphasizes transparency, providing real-time support asset information and weekly reserve proofs.

BlockBeats news, on September 25, M2 Capital Limited, the investment arm of M2 Holdings based in the UAE, has invested 20 million USD in Ethena's governance token ENA. This move highlights the group's efforts to build new digital asset infrastructure in the Middle East and seek a larger role in global finance. Ethena is best known for its encryption-native synthetic dollar USDe and its yield-generating version sUSDe. Both are collateralized by digital assets and use hedging strategies to drop volatility. Since its launch in 2024, the protocol has attracted over 14 billion USD in deposits, reflecting strong market demand for products that combine stablecoin characteristics with yield capabilities. M2 Holdings affiliate M2.