Ethena’s synthetic USDe contracts sharply as dollar-backed stablecoins expand

Market Intelligence Analysis

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Why This Matters

Ethena's USDe synthetic dollar contracts have decreased in value, losing 24% of its supply in November, as dollar-backed stablecoins continue to gain market share.

Market Impact

Market impact analysis based on bearish sentiment with 76% confidence.

Sentiment
Bearish
AI Confidence
76%

Article Context

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Ethena’s USDe shed 24% of its supply in November, losing market share as fiat-backed stablecoins like USDT, USDC, PYUSD and RLUSD added billions.

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Original article published by Unknown on December 3, 2025.
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