Just now, @ethena_labs tweeted to celebrate USDe breaking through 6 billion. Looking at DeFilama's data over the past month, $USDe is indeed the fastest growing among the top 10 stablecoins. It has increased by 11.7% in the past 7 days and has increased by 2.93% in the past day, and the bull market is indeed the home of $USDe. Therefore, the recent $ENA has begun to explode, which is also supported by fundamental data. Ethena's core revenue comes from: The funding rate for short orders on perpetual contracts is positive → to earn this profit when the position is closed. So as soon as the bull market arrives, @ethena_labs's left-footed right-footed mode kicks in: • Most people in the market are bullish, resulting in long orders crowding into the perpetual market; • Long pay short funding rate for perpetual contracts; •Ethena holds short orders → earns funding fee income; • The higher the funding rate, the more stable the USDe mechanism and the more considerable the annualized return; • Attract more users to hold $USDe (enjoy sUSDe yields); • Market confidence in its growth increases, creating a virtuous circle. The reason why @ethena_labs is one of the most commendable innovations of the past cycle is this system (and I personally think there are @pendle_fi @HypeliquidX @KaitoAI others) ～～～～～～～～ BTW, Recently, it is not fragrant to put funds in simple earning, and the buddies have begun to adjust their positions. The familiar taste of the bull market is here again, and I love this season to death