Very impressive inflows into $USDe since mid-July once sUSDe APY started to trend up 📊🔥
Yesterday daily net flows hit a record high @ $542.5m 🏆🤯
Ethena clearly demonstrates the only way to grow a stablecoin these days is to offer depositors/holders a very competitive yield.
$sUSDe APY currently @ 11% but will start to go down rapidly in the next 1-2 weeks as funding rates have been in decline while sUSDe supply has grown by $2b in just two weeks.
⚠️sUSDe, USDe pegs and could see quite a bit of volatility in August if APY declines and capital starts flowing out to seek better yields elsewhere.
If you're currently in any leverage-looping strategies involving USDe/sUSDe, exercise caution!
$ENA #DeFi $pendle
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