Ethena USDe narxiUSDe

🐋 One of the whales began transferring his coins to Binance while other whales were launching stablecoins. This investor held his assets for over a year, but his investment is now in the red, with an unrealized loss of $4 million. Here is the list of coins: - 3.43 million $ONDO ($1.69 million), loss of $1.03 millions - 621,914 $WLD ($387,000), loss of $1.11 millions - 967,558 $FET ($243,000), loss of $1.07 millions - 623,055 $ARKM ($146,000), loss of $1 millions Most likely, he is wary of a further market correction and decided to lock in the losses on his positions. 🐳 At the same time, several whales have transferred funds to exchanges over the past 24 hours. $USDe stablecoins worth $48.9 million, $11.5 million, and $8.9 million were sent to Bybit. These stablecoin transfers to exchanges may indicate whales' desire to gradually begin buying back the market.

Ethena Labs has partnered with Anchorage Digital, with the latter set to provide platform rewards for USDtb and USDe.

On-chain credit tightened. Aave TVL dropped from ~$30B → ~$22B, while the USDe unwind drove >$1B in collateral migration. Liquidity, counterparty strength, and dynamic margining now outweigh nominal yields.

RT @Ethena_Eco: 0 to 155k+ unique USDe onchain holders in 24 months. Internet Money for All.

Ethena's next big bet is the PerpDEX sector. The number of PerpDEXs in the Ethena ecosystem has grown significantly in recent months: - Ethereal - Based - Hyena - Reya - Nunchi USDe & sUSDe are becoming collateral in Perp LPs almost everywhere, generating additional yield for Liquidity Providers and the PerpDEXs themselves. This gives these exchanges a competitive advantage, creating a strong flywheel effect: -> Higher APR -> More Liquidity -> Better Spreads -> New Traders -> Higher Volumes -> Higher APR Interestingly, 3 of these PerpDEXs are built on Hyperliquid. I wonder if Ethena plans to build a frontend on top of Lighter? This is a logical step that could strengthen both projects.