Global #stablecoins.

In April, stablecoins broke with the general market downturn and went on a seven-month run of gains.

Ethena Labs, a decentralized protocol focusing on the yield-bearing USDe stablecoin, has stirred debate among crypto traders since its public introduction in February, with comparisons drawn to the Terra ecosystem, which collapsed in 2021.

A persistent discussion in the cryptocurrency market revolves around the impact of U.S. dollar stablecoins, which are cryptocurrencies tied to the value of the dollar, on the global dominance of the greenback.

Tether caused a stir in the financial industry in 2023 when it reported an incredible $6.2 billion in net income.