CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinDesk 2025-02-03 07:53:15

USDe Stable Despite Trade War Volatility

It's business as usual for Ethena's USDe as the synthetic stablecoin appeared to weather the storm brought on by market volatility from the White House's trade war threats. USDe differs from stablecoins such Circle's USDC because it's a synthetic stablecoin and not backed by fiat assets at a 1:1 ratio. The stablecoin maintains its $1 peg by collateralizing stablecoins and leveraging a hedged cash-and-carry trade, which involves taking futures positions with large open interest available to stabilize value. USDe spent most of the Monday trading day maintaining its $1 peg, with brief dips down to $0.999. Data from CoinGecko shows that the stablecoin's market cap inched above $6 billion, up from about $5.7 billion a week ago. Its funding rate also remained positive according to on-chain data. Funding rates are crucial for maintaining USDe's peg to the dollar and managing market equilibrium. A positive funding rate indicates that holders of long positions are paying a small fee to holders of short positions. This suggests a slightly bullish market sentiment. Another reason why USDe may have maintained its peg is because of the interest bearing nature of the token, which currently pays out an APY of 10%, which has been stable over the last 30 days according to a dashboard from Dune Analytics. Last year some concern was raised about the size of Ethena's reserve fund for USDe, with research house CryptoQuant highlighting that the fund might not be sustainable over $4 billion. However, this reserve fund has grown proportionately to USDe's market cap, and stands at $46.6 million at the end of Q4 2024. Crypto market safe haven? USDe's stability plus yield-bearing appeal means investors could take refuge in the token. Arthur Hayes, chief investment officer at digital asset investment fund Maelstrom and co-founder of BitMEX, who expects BTC to slide to $75,000 in coming weeks, has record exposure to USDe. "Maelstrom has raised the amount of staked Ethena $USDe it holds to record levels and continues to take profits on several shitcoin position," Hayes said in a blog post last week. "We are still bigly net long, but if my feeling is correct, then we will be positioned with copious amounts of dry powder ready to buy the dip on Bitcoin and a mega dip on many quality shitcoins," Hayes added. Hayes is an investor in and an advisor to Ethena.

면책 조항 읽기 : 본 웹 사이트, 하이퍼 링크 사이트, 관련 응용 프로그램, 포럼, 블로그, 소셜 미디어 계정 및 기타 플랫폼 (이하 "사이트")에 제공된 모든 콘텐츠는 제 3 자 출처에서 구입 한 일반적인 정보 용입니다. 우리는 정확성과 업데이트 성을 포함하여 우리의 콘텐츠와 관련하여 어떠한 종류의 보증도하지 않습니다. 우리가 제공하는 컨텐츠의 어떤 부분도 금융 조언, 법률 자문 또는 기타 용도에 대한 귀하의 특정 신뢰를위한 다른 형태의 조언을 구성하지 않습니다. 당사 콘텐츠의 사용 또는 의존은 전적으로 귀하의 책임과 재량에 달려 있습니다. 당신은 그들에게 의존하기 전에 우리 자신의 연구를 수행하고, 검토하고, 분석하고, 검증해야합니다. 거래는 큰 손실로 이어질 수있는 매우 위험한 활동이므로 결정을 내리기 전에 재무 고문에게 문의하십시오. 본 사이트의 어떠한 콘텐츠도 모집 또는 제공을 목적으로하지 않습니다.