• Coinbase analyst David Han believes USDe stablecoin is now a formidable rival to DAI.
• USDe gained market cap against DAI due to high yields and airdrop incentives.
• USDe added $500 million in two days while DAI stayed relatively stagnant.

David Han, a research analyst at Coinbase, has highlighted Ethena’s newly launched USDe stablecoin as a formidable rival to MakerDAO’s DAI stablecoin. In Coinbase’s latest market trends report, research analyst David Han emphasized that USDe’s growth has significantly outpaced MakerDAO’s DAI in 2024 thus far.

According to the researcher, USDe has gained market share relative to DAI due to attractive yields and airdrop incentives. Moreover, he attributed the surge to the contentious governance alterations within MakerDAO and ongoing debates within the DeFi community regarding the potential removal of DAI as collateral from Aave markets.

At press time, the USDe stablecoin has a market cap of $2.05 billion, while DAI remains significantly ahead with $5.35 billion. Meanwhile, USDe attracted a considerable chunk of its market share within the last seven days. 

As of April 2, USDe has a market cap of $1.58 billion. …

The post Ethena’s USDe Now Real Threat To Maker’s DAI: Coinbase Analyst appeared first on Coin Edition.

• Coinbase analyst David Han believes USDe stablecoin is now a formidable rival to DAI.
• USDe gained market cap against DAI due to high yields and airdrop incentives.
• USDe added $500 million in two days while DAI stayed relatively stagnant.

David Han, a research analyst at Coinbase, has highlighted Ethena’s newly launched USDe stablecoin as a formidable rival to MakerDAO’s DAI stablecoin. In Coinbase’s latest market trends report, research analyst David Han emphasized that USDe’s growth has significantly outpaced MakerDAO’s DAI in 2024 thus far.

According to the researcher, USDe has gained market share relative to DAI due to attractive yields and airdrop incentives. Moreover, he attributed the surge to the contentious governance alterations within MakerDAO and ongoing debates within the DeFi community regarding the potential removal of DAI as collateral from Aave markets.

At press time, the USDe stablecoin has a market cap of $2.05 billion, while DAI remains significantly ahead with $5.35 billion. Meanwhile, USDe attracted a considerable chunk of its market share within the last seven days. 

As of April 2, USDe has a market cap of $1.58 billion. …

The post Ethena’s USDe Now Real Threat To Maker’s DAI: Coinbase Analyst appeared first on Coin Edition.