随着链上杠杆需求回升，Ethena Labs 的美元稳定币市场份额接近 3%

Ethena 的 $USDe 稳定币供应量正在迅速接近 60 亿美元，自 10 月份低点以来已大幅增长 140%。

Ethena's stablecoin, $USDe, is nearing a supply of $6 billion, marking a significant 140% increase since October lows. Despite this growth, $USDe's market share remains at 2.83%, highlighting its potential for further expansion.

Ethena 的稳定币 $USDe 的供应量接近 60 亿美元，自 10 月低点以来大幅增长 140%。尽管出现这种增长，$USDe 的市场份额仍保持在 2.83%，凸显了其进一步扩张的潜力。

Rapidly rising on-chain leverage demand has benefited Ethena Labs, driving up sUSDe yields to over 20% APY. This high yield has attracted capital inflows, with platforms like Aave and Pendle seeing increased supply flow.

快速增长的链上杠杆需求使 Ethena Labs 受益，将 sUSDe 收益率推高至年化 20% 以上。这种高收益吸引了资本流入，Aave 和 Pendle 等平台的供应量有所增加。

The growth in sUSDe stakers has also been noteworthy, with over $50 million in $USDe rewards distributed to sUSDe stakers in the past month alone. This has effectively doubled the stablecoin's supply and boosted its appeal as a high-yielding, stable asset.

sUSDe 质押者的增长也值得注意，仅在过去一个月，就向 sUSDe 质押者发放了超过 5000 万美元的 USDe 奖励。这实际上使稳定币的供应量增加了一倍，并增强了其作为高收益、稳定资产的吸引力。

Highlighting the rising demand, the sUSDe-USDT liquidity pool on Uniswap now has the largest liquidity position, showcasing market enthusiasm for yield-bearing stablecoins. This liquidity surge demonstrates strong investor interest in Ethena's ecosystem as a reliable source of yield during a period of reinvigorated DeFi activity.

Uniswap 上的 sUSDe-USDT 流动性池目前拥有最大的流动性头寸，凸显了需求的不断上升，显示了市场对收益型稳定币的热情。这种流动性激增表明了投资者对 Ethena 生态系统的强烈兴趣，认为它是 DeFi 活动重振时期可靠的收益来源。

While $USDe's current market share is modest, its rapid growth and favorable market conditions present an opportunity for expansion. As on-chain activity continues to accelerate, Ethena Labs is well-positioned to capitalize on rising demand, solidifying its role as an up-and-coming player in the stablecoin market. Investors are watching closely to see if this momentum will propel $USDe to greater market presence.

虽然美元兑美元目前的市场份额不大，但其快速增长和有利的市场条件提供了扩张的机会。随着链上活动不断加速，Ethena Labs 已做好充分准备，充分利用不断增长的需求，巩固其作为稳定币市场新兴参与者的角色。投资者正在密切关注这一势头是否会推动美元占据更大的市场份额。