最新报道:USDe's circulating supply surges to $11.4 billion, driven by Pendle's September maturity market holding $3.4 billion. Ethena's points campaign offers a 70x sats boost, with YT buyers pricing implied APY at ~14%, far exceeding sUSDe's 6-9%. ENA's price rise from $0.25 to $0.67 since July boosts expected distribution value, fueling a flywheel effect where USDe growth lifts ENA valuation, attracting over $1 billion in new supply last week. Leverage risks amplify as Aave holds $4 billion in PTs with maxed-out borrow capacity.