Ethena and Tether's Symbiotic Growth in the Crypto Market

According to PANews, Ethena founder Guy Young clarified on the X platform that Ethena and Tether are not competitors but rather mutually beneficial entities. In a market where approximately 70% of perpetual contracts are denominated in USDT, each short position added by Ethena creates new demand for USDT. This is because the counterparty must use USDT as collateral to establish long positions. This mechanism implies that for every dollar of USDe issued, supported by perpetual contracts, there is an approximate $0 source: https://www.binance.com/en/square/post/23349467702329?utm_source=BinanceNewsRSS