Ethena USDe has become the fifth largest stablecoin by market capitalization

According to Coingecko data, at the time of writing this article, the market value of Ethena USDe has reached about 1.98 billion US dollars, surpassing USDD to become the fifth largest stablecoin by market capitalization, second only to Tether (current market value of about 106.26 billion US dollars), USDC (current market value of about 32.88 billion US dollars), DAI (current market value of about 4.938 billion US dollars), and FDUSD (current market value of about 2.521 billion US dollars).