What do you think of USDE?

[Midexmth]

Hey everyone..In a world where cryptocurrency markets can be notoriously volatile, stablecoins have emerged as a beacon of stability imo.. Among them, USDe has been gaining traction, particularly after investment giant BlackRock threw its weight behind it. USDe's popularity can be attributed to its reputation for security and reliability, making it a compelling alternative to other stablecoins like USDT and USDC.

What's your take on this, can it be sustainable and I want to ask, any platforms that has USDE pairs?.

[Charles-Tim]

I guess you are attracted to its 29% ARP on exchanges like Bybit by just having the coins on the exchange. The coin is not backed by fiat the last time that I checked about it which makes me think twice about the token as many algorithmic stable coins disappointed people. I am not implying that it is one of them. But it is a said that it is not like USDT and USDC that can be seized by the developers. I am just knowing that the token is backed by Blackrock build.

[joniboini]

USDe's popularity can be attributed to its reputation for security and reliability, making it a compelling alternative to other stablecoins like USDT and USDC.

How can we know for sure if it's a new product? Sure, their marketing teams will claim they provide insurance or whatever for each token on the market, but so do other stablecoins in general. I don't think their reputation is big enough since I have never seen them mentioned on social media so far. Reliablity comes with time too so it's too soon to claim they're popular because we've yet to see how they will react if they face problems. I'd wait at least a few years or more before judging whether they are a good alternative to USDT. CMIIW.

[KryptoBull]

Hey everyone..In a world where cryptocurrency markets can be notoriously volatile, stablecoins have emerged as a beacon of stability imo.. Among them, USDe has been gaining traction, particularly after investment giant BlackRock threw its weight behind it. USDe's popularity can be attributed to its reputation for security and reliability, making it a compelling alternative to other stablecoins like USDT and USDC.

What's your take on this, can it be sustainable and I want to ask, any platforms that has USDE pairs?.

I also heard about USDe from Ethena but never had plans to use it. USDT and USDC have been sufficient for my needs, I'm not easily convinced to trust new stablecoins, especially algorithmic ones. UST made me more cautious even with stablecoins.

USDe has a quite interesting staking mechanism right on Ethena with APR ~ 10%, if you want to trade USDe, you can use Bybit, Bitget, Gateio.

[Stompix]

USDe's popularity

What popularity by what metrics?
USDe volume is 150 mils, with half of that being USDe/USDT pair, for comparison USDT volume is 1000x bigger!
The only thing interesting about these coins or rather concerning is their higher returns for staking, we all know what happened to Celsius.

[target]

Backed by BlackRock means it's backed by the government.

There's got to be more than o this stablecoin after all it's backed by BlackRock. When the bear market is going to make our lives a living hell and you have made millions in this bull run, I'm sure it's going to be a good choice to stake for about a year.

[dkbit98]

I never heard much about USDe but if Blackrock is behind it than this is a red flag for me.
Blackrock owns everything and they are not a good guys, they increase wealth by doing all kinds of manipulations, so Bitcoin and any stable coins won't be an exception.
I would stay away from USDe, and I wouldn't use hold stable coin long term.

[MrSpasybo]

I never heard much about USDe but if Blackrock is behind it than this is a red flag for me.
Blackrock owns everything and they are not a good guys, they increase wealth by doing all kinds of manipulations, so Bitcoin and any stable coins won't be an exception.
I would stay away from USDe, and I wouldn't use hold stable coin long term.

You might be confusing USDe with UStb, they are both products of Ethena. USDe is an algorithmic stablecoin, while UStb is a stablecoin backed by Blackrock. I think the choice of using or rejecting USDe and UStb comes from personal preference, for example, I only like USDT because I trust Tether, a company that is more profitable than Blackrock.

I think we shouldn't hate Wall Street companies because they are actively participating and creating development in the crypto market through Spot ETFs and the huge amount of money being used to accumulate BTC. For me, they are helping the market recover and grow, meaning they are indirectly creating more profit for me in this market. Blockchain is decentralized, crypto allows the participation of everyone, including Wall Street, so we can respect that.

[dkbit98]

You might be confusing USDe with UStb, they are both products of Ethena. USDe is an algorithmic stablecoin, while UStb is a stablecoin backed by Blackrock. I think the choice of using or rejecting USDe and UStb comes from personal preference, for example, I only like USDT because I trust Tether, a company that is more profitable than Blackrock.

Both of them are crap and I don't really care about them at all.
But you can't be seriously saying that Tether is more profitable than Blackrock 
They own literally everything and they are major shareholders in all companies, combined with Vanguard.

[Stompix]

Backed by BlackRock means it's backed by the government.

Not at all, it's a public company, it can do whatever they feel like when finding stuff but they can also fail miserably.
Just as food for thought Blackrock also invested in Circle which issued USDC.

And if you think they can't fail, they took a lot of hits, they had to shrink their investments in 2022, had to fire people in 2023, despite being big and on the lips of everyone they are more like managers of assets rather than an outperforming fund by themselves.

[Bobcrypto]

In my opinion some of the new stable coins out there can not be trusted because of the composition of reserved assets. The reserve assets can be differs across all newly stable coins out there, and the issue of full transparency may be lacking.
Again, usde is relatively new, the acceptance of this stable coins depends largely on the market size and the liquidity which are the important indicators of all stable coins safety and reliability. I think that the size of usde market is still very low compared to other existing stable coins out there