Ethena USDe has become the fifth largest stablecoin by market value

According to Coingecko data, as of the time this article was written, Ethena USDe's market capitalization has reached approximately $1.98 billion, surpassing USDD to become the fifth largest stablecoin by market cap, only behind Tether (current market cap about $106.26 billion), USDC (current market cap about $32.88 billion), DAI (current market cap about $4.938 billion), and FDUSD (current market cap about $2.521 billion).