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News Explorer — Potential Etherum ETF Approval Boosts Ethena USDe Market Cap Past $2.5 Billion

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May 22, 9:54 pm
Unchained Crypto

Potential Etherum ETF Approval Boosts Ethena USDe Market Cap Past $2.5 Billion

The potential approval of a spot ether exchange-traded fund (ETF) by the SEC has driven the market cap of Ethena's USDe cryptocurrency above $2.5 billion. This surge in market cap is attributed to increased Ethereum open interest and higher perpetual funding rates across the market. Ethena's USDe staking yield has also become more attractive, with a current yield of 37.2%.

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