USDE surpasses FDUSD to become the fourth largest stablecoin

This weekend, Ethena's synthetic dollar stablecoin USDE reached a market cap of $3 billion. As of June 2, 2024, USDE had a market cap of around $3.02 billion as of June 2, surpassing FDUSD's $2.90 billion. After breaking the $3 billion mark, USDE has now become the fourth largest stablecoin. About 13,238 unique addresses hold USDE, and 395,430 transfers have been made to the token since its launch.
Ethena's smart contract addresses held the most tokens at 1.21 billion USDE, accounting for 40.16% of the total supply, while Ethena's LP staked addresses held the second largest amount at 511.2 million USDE, accounting for 16.92% of the circulating supply.