Etherna Labs said on Thursday that its Etherna Protocol has generated more than $ 500 million in combined -income. Growth in both income and the migrating supply of synthetic stablecoin, Etherna USDE (USDE), has been accelerated since July as the synthetic stablecoins gain share market.
Ethena Labs shared the news through an X post, stating that last week, the protocol revenue hit $ 13.4 million and the USDE supply hit a full time of $ 11.7 billion.
“Etherna’s income was driven by strong flow to the USDE and favorable market conditions that strengthened the return from the Delta-Neutral Hedging Reserve model,” said an Etherna Labs spokesman for Cointelegraph. “Protocol momentum reflects the growing demand for and trust in USDE as a store of value.”
According to To decentralized the financial analytics platform Defillama, the Ethhena Usde had the third-major capitalization of the market of all stablecoins at this time of writing. It also has the leading market capitalization of the synthetic stablecoins. Last month, the Etherna Usde market cap rose 86.6%.
In conjunction with Etherna Usde, other synthetic stablecoins are gaining momentum and shares in the market. Sky Dollar (USDS), which gives strength to the ecosystem of the sky and a upgrade version of DAI (Dai), found a 14% increase in market cap. Falcon USD (USDF), a synthetic dollar created by Falcon Finance, saw a market cap of the market 89.4%.
Synthetic stablecoins have benefits as well as risks. Because they are not collateralized by physical possession, they may have lower transaction costs. But there is a risk of instability and removal, which can result in significant investors.
Related: The Etherna Labs appeared in the German market following Bafin’s agreement
Stablecoin Market jumped 4% in August 2025
According to Defillama, the Stablecoin Market Cap jumped 4% in August, rising to $ 277.8 billion on Thursday from $ 266.6 billion on July 31. The revolt came amid the growing clarity of the United States, with President Donald Trump Signing of the Genius Act to Law on July 18.
In Wyoming Blockchain Symposium 2025, the US Federal Reserve Governor Christopher Waller It is said that the Genius Act Stablecoins can help reach their full potential and expand the role of dollars worldwide.
China may be opposed to its own stablecoin transfer. In what would be a significant policy shift, it has been reported that Considering allowing Chinese-supported stables.
Magazine: Legal Panel: Crypto wants to overthrow banks, now it becomes them in the stablecoin fight
