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Ethena’s USDe grabs 43% of Robinhood Chain stablecoins as capital parks
Aug 12, 2026
< 1 min read
by Micah Abiodun
for CryptoPolitan
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AI Overview
Ethena's USDe grew from about $17 million a month ago to roughly $253 million, capturing nearly 43% of Robinhood Chain's stablecoin supply and becoming a major source of dollar liquidity. The rapid DeFi adoption and market impact boost crypto liquidity and token prominence on Robinhood Chain but raise concentration and synthetic-dollar risks for protocol security and on-chain exposure.
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Ethena’s USDe has quickly become a major source of dollar liquidity on Robinhood Chain, growing from about $17 million a month ago to roughly $253 million, or close to 43% of the chain’s stablecoin supply, according to The Block. The jump is notable because USDe is more than a digital dollar. It is a synthetic...
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