Ethena leads stablecoin market cap growth with $337 million in 24 hours
Ethena has overtaken Ripple as the leading contributor to stablecoin market capitalization growth over the past 24 hours, according to new market data. This development comes shortly after Ripple had claimed the top position in stablecoin market cap expansion.
Ethena’s rapid rise to the top
Recent statistics from the blockchain analytics platform Token Terminal show that Ethena added $337.4 million to its total market capitalization within a single day, making it the leading stablecoin issuer in terms of short-term growth.
This significant inflow pushed Ethena ahead of other major competitors in the stablecoin sector. The sharp increase in market cap highlights Ethena’s growing influence among stablecoins and attributes a notable shift in recent market dynamics.
Mini dictionary: Ethena is a decentralized finance protocol known for issuing synthetic stablecoins designed to maintain value stability using algorithmic mechanisms.
Ethena surpassed Ripple as the largest stablecoin market cap growth contributor after adding $337.4 million in the last 24 hours, an amount about 8.5 times greater than Ripple’s market cap increase in the same period.
Ripple falls to second place amid strong competition
The latest 24-hour data places Ripple in the second position among stablecoin issuers by market cap growth. Ripple, a blockchain company recognized for its role in digital payments and stablecoin development, saw an increase of $39.6 million in market capitalization during this period. The figure remains a substantial gain, though it was considerably outpaced by Ethena’s performance.
Ripple had previously topped the leaderboard with a $34.7 million market cap increase the previous day, but now trails Ethena in the rapid competition for stablecoin growth dominance.
Other stablecoin issuers see gains
Several other stablecoin projects also experienced modest rises in market capitalization. USDD recorded a $13.9 million gain, maintaining its position behind Ripple. Paxos added $10.8 million, reflecting steady adoption in the stablecoin segment.
Ondo reported a $4.2 million increase, while OpenStandard showed a growth of $3.2 million. UnitedStables rounded out the group with a $3 million uptick in its market capitalization over the 24-hour period.
| Ethena | $337.4 million |
| Ripple | $39.6 million |
| USDD | $13.9 million |
| Paxos | $10.8 million |
| Ondo | $4.2 million |
| OpenStandard | $3.2 million |
| UnitedStables | $3 million |
The latest figures underscore ongoing competition and development in the stablecoin industry, with Ethena emerging as the current growth leader among issuers.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Why Are Bitcoin and US Stock Market Falling? Will the Sell-Off Continue This Week?
Midterm elections expose market vulnerability! AI trading faces rigorous scrutiny, U.S. stock earnings expectations may undergo major adjustments
The results of the US midterm elections and the subsequent market crash have exposed the vulnerability caused by the market’s excessive concentration of bets on artificial intelligence (AI). Investors may need to readjust their expectations for investment returns.
SpaceX unlock wave meets index rebalancing! Goldman Sachs estimates: December rebalancing may bring $10.9 billion in passive buying
The proportion of SpaceX's freely tradable shares has increased from about 5% at the time of its IPO to one-third, and the expansion of index weightings is driving passive funds to increase their holdings. According to Goldman Sachs, the rebalancing of the Russell 1000 Growth Index on December 11 may trigger $10.9 billion in buy orders, with the main counterparts being insiders whose shares are unlocked. The S&P 500 inclusion window points to the second half of 2027, when the competition among passive funds will further intensify.
Citigroup Q3 Holdings: Nvidia (NVDA.US) Remains Top Heavy Position, Expanded Both Index and Tech Stock Options
According to the disclosure by the U.S. Securities and Exchange Commission (SEC), Citigroup (C.US) submitted its third quarter holdings report (13F) as of September 30, 2026, on November 4, 2026.
Crypto prices
More
