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USD has surpassed FDUSD, becoming the third largest stablecoin in the market.
According to data from DeFiLlama, the supply of USDe from Ethena has increased by 75% over the past month, reaching 9.3 billion USD and surpassing FDUSD to become the third largest stablecoin by market capitalization, only behind USDT and USDC. At the same time, Ethena has also risen to the 6th position in the DeFi ranking by total value locked (TVL).