USDe supply surged by $300 million in the past week, which may be seen as an indicator of market recovery

Mars Finance News, on May 19, according to ai_9684xtpa monitoring, benefiting from the recent significant rebound of BTC & ETH in the market, the funding rates of the two major mainstream cryptocurrencies have recently recovered, and the USDe supply has surged by 300 million dollars in the past week, reaching a total supply of 4.98 billion dollars. The two stages with the steepest and longest-lasting slope on the supply curve are: 2024.02-04: BTC broke through $70,000, and USDe supply exceeded 2 billion; 2024.10-12: BTC stood above $100,000, USDe supply approached 6 billion, increasing by about 4 billion dollars in supply within 8 weeks, with capital inflow even exceeding the Ethereum ETF. As the core asset of Ethena, USDe's business performance will also be reflected in the ENA token price, and usually with some lag.