TechFlow news, September 2 — According to Dlnews, Ethena's dollar-pegged stablecoin USDe has reached a record high of $12.43 billion in circulating supply, marking a 42% increase over the past month. USDe has now surpassed the combined supply of Sky's DAI and USDS, becoming the third-largest dollar-pegged stablecoin after USDT and USDC. Ethena generated over $61 million in revenue in August, the highest since the beginning of this year.
Ethena founder Guy Young stated that activating the fee switch is the "top priority," which would allow ENA governance token holders to share protocol profits for the first time. Two of the three milestones required for launching the fee switch have already been achieved: USDe circulation exceeding $6 billion and cumulative revenue reaching $250 million. The only remaining goal is integrating USDe into the top five centralized exchanges by trading volume.
