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Ethena-Coinbase USDC vault surpasses $300M in two months, showing strong DeFi adoption.

Protocol Fundamentals
11 Aug 2026, 15:10 WIB
Crypto Briefing
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Bullish
Ethena-Coinbase USDC vault surpasses $300M in two months, showing strong DeFi adoption.

Ethena's Steakhouse High Yield USDC Vault on Coinbase reached over $300 million in assets just two months after its launch in June 2026. The vault offers high yields by using Ethena's synthetic dollar assets, USDe and sUSDe, which employ a delta-neutral strategy to generate returns from crypto collateral and derivatives markets. Coinbase manages custody and user access, making it easy for retail investors to earn yield without dealing with complex DeFi processes. While the vault's growth is impressive, its future depends on market conditions affecting yield rates, which could impact deposit levels.

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