Ethena Labs’ USDtb Stablecoin Surges 1,500%, Enters Top 10 Stablecoins

Ethena Labs’ USDtb Stablecoin Surges 1,500%, Enters Top 10 Stablecoins

USDtb, Ethena Labs’ synthetic stablecoin, surged 1,500% in market capitalization in March, driving it to the eighth-largest stablecoin by market cap.USDtb’s market cap is hovering at around $1.4 billion, reflecting a 25% increase in the past week alone. USDtb’s March growth allowed it to enter the top 10 stablecoins by market capitalization for the first time.The synthetic stablecoin is backed by BlackRock’s BUIDL fund, with over 90% of its rese…