Summary

Amidst market fluctuations, the USDe synthetic stablecoin has maintained its peg of roughly $1, even during periods of volatility from trade war threats. As of Monday trading, it showed brief dips to $0.999 but remained largely stable.

• The market cap of USDe has now crossed $6 billion, rising from $5.7 billion a week prior.
• Its funding rate remains positive, crucial for stabilization, indicating a slightly bullish market sentiment.
• The token also offers an APY of 10%, which has proved to be steady over the last month.

Background

Unlike traditional stablecoins like USDC, USDe is a synthetic stablecoin, not strictly backed by fiat currency at a 1:1 ratio. It leverages collateral and trades to maintain its value.

In a world of volatile markets, USDe serves as a potential haven for investors, aligning with major trends in cryptocurrency trading dynamics. Arthur Hayes, Chief Investment Officer at Maelstrom, emphasizes heightened investments in USDe amid market predictions.

“Maelstrom has increased its stakes in Ethena’s USDe, capitalizing on gains while preparing for potential market dips,” Hayes stated.

“We are positioned to capitalize on future opportunities as they arise, particularly in quality investments.”

More details can be found in the original report here.