Users have rapidly flocked to USDe, making it the third-largest USD-pegged stablecoin, overtaking DAI’s $4.7 billion, but is behind USDT and USDC, which have a market cap of $135 billion and $40 billion, respectively. According to CoinMarketCap, USDe’s trading volume increased by 24.27% in the past 24 hours to reach $171.09 million, indicating high demand for yield-bearing assets.

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