1. Investors are rushing to acquire USDe, the synthetic dollar, as Ethena's assets gain rapid adoption in the crypto market.
2. The demand for financial products synthesized from Ethena's assets is high, with users willing to pay a premium to obtain them.

1. Investors are rushing to acquire USDe, the synthetic dollar, as Ethena's assets gain rapid adoption in the crypto market.
2. The demand for financial products synthesized from Ethena's assets is high, with users willing to pay a premium to obtain them.
https://www.bankless.com/ethena-defi-wave-usde

3. Pendle has played a crucial role in facilitating airdrop speculation on Ethena, with a significant increase in Total Value Locked (TVL) attributed to USDe.
4. Mantle and MakerDAO are also riding the Ethena wave, offering users bonuses and minting DAI against USDe collateral, respectively.

5. Gearbox allows users to speculate on Ethena assets through leveraged positions, and the protocol is expected to continue growing as long as caps are increased.