Ethena USDe (USDE) Daily Market Analysis 13 August 2026

Ethena's USDe hits record revenue and supply milestones while expanding across chains – here's the latest: • Protocol revenue reached ~$61M in August 2026, validating the yield-bearing stablecoin model • USDe supply surged +42% to an all-time high as institutional demand accelerates • Integrated with Monad's Aave, Avalanche, and Robinhood Chain, broadening DeFi utility • Added to BlackRock's Aladdin platform ($25T AUM) and Robinhood's Earn as primary collateral • Yield compressed from 20%+ to ~4.1-4.5% APY, prompting $250M RWA diversification into Centrifuge