The Usde market capitalization of Ethena is 75% in a month in the middle of Treasury launch

Ethena’s synthetic dollar stablecoin, Usde, has seen impressive market growth in recent weeks. Market capitalization is now $ 9.3 billion.

In the past month alone it has risen by 75%, with a weekly jump of 24%.

Usde Growth Signals Strong Investor Easter

Since July 18, Stablecoin has been used included The largest increase in offer among all major competitors, who, according to Data from Artemis, add around $ 2.73 billion.

This growth even surpasses Tether (USDT), who saw an increase of $ 2.47 billion, and the USDS of First Digital, which increased by around $ 1 billion. Other stablecoins such as USD Falcon and Pyusd from PayPal also saw moderate profits, while USDC achieved the biggest decrease in the offer and dropped by nearly $ 800 million.

This increase corresponds to renewed attention on Ethena after the launch of 21 July of Stablecoin X, a long -term branch that is designed to assign capital over the ecosystem. When the movement was announcedStablecoin X promised to buy $ 260 million in ENA, which is around 8% of the offer.

In addition to this strategic development, the high annualized yield of 11% has offered a considerably increased coin activity by Stusted Usde (Susde). It is important that Ethena Foundation has the authority to block any Ena sales of Stablecoin X and force the entity to channel the purchased tokens in reinvestations or upgrades of infrastructure.

According to the latest tweet from Ethena Guy Young, Usde Supply has the last 20 days surpassed Those who are seen in all BTC ETFs and BlackRock’s ETHA ETF.

Impact on Ena

This increase in the demand for Stablecoin seems to have positively influenced ENA, the native token of Ethena.

After he briefly immersed $ 0.51 this weekend, Ena climbed back to around $ 0.62. Token has risen more than 140% in the past month. Market capitalization became $ 8.4 billion at the end of July before he reached a new highest point of more than $ 9.4 billion by 4 August. At the same time, Ena starts to show signs from a recovery, hints to renewed market interest rate and momentum.