Ethena's synthetic dollar, USDe (CRYPTO:USDE), has rapidly achieved a $3 billion supply within four months of its launch, positioning it as the fourth-largest stablecoin in the market.

The milestone underscores the growing confidence in stablecoins within the decentralised finance (DeFi) ecosystem.

Despite its success, concerns raised by experts like Andre Cronje and Ki Young Ju regarding potential risks highlight the need for caution in the DeFi space.

Nonetheless, USDe's rapid growth and attractive annual percentage yield (APY) of 33.5% indicate strong demand and continued traction within the DeFi community, setting a new benchmark for innovative stablecoin solutions.