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bitcoin
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Analyst Warns Ethena’s USDE Could Disrupt Stablecoin Market Dominated by USDT and USDC

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An analyst has warned that the rising recognition of Ethena’s USDE, an artificial greenback not backed by fiat however by belongings like staked ETH derivatives, may disrupt conventional fiat-backed stablecoins equivalent to USDT and USDC. This warning comes amid Ethena and its stablecoin USDE’s partnership with the crypto change Bybit, which helps perpetual buying and selling and affords progressive incentives like yields on trades that would divert merchants from USDT and USDC. Critics, nevertheless, query the sustainability of the excessive yields promised by USDE, suggesting that the $10 million Reserve Fund may not be adequate to keep up its peg if yields drop.

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