According to @etherealdex, Ethereal's PerpDEX has achieved the second-highest Total Value Locked (TVL) across all networks, following only Jupiter. Its TVL is reported to be 4.5 times that of Hyperliquid, reaching a significant $820 million. This increase is attributed to the ongoing 'Season Zero' deposit phase, where users can deposit $USDe to earn project points and testnet access. So far, 16,210 addresses have collectively deposited $830 million.

According to IntoTheBlock, Ethena's $USDe stablecoin successfully maintained its peg and processed large redemptions quickly following the Bybit hack. The stablecoin's recovery from a brief discount has reinforced market confidence, indicating its robustness in crisis scenarios.

According to IntoTheBlock, Ethena's $USDe is nearing a supply of $6 billion, marking a 140% increase from its October lows. Despite this significant growth, $USDe only captures 2.83% of the market share, indicating that it remains far from competing with major players like USDC.