2026-01-09 04:12:38

Scrolled past a few big shots pushing the same old high-position CX tactics again. Can only say those listening this lifetime is made.

The battle for the third seat in stablecoins, Sky and Ethena are fighting fiercely.

From the 90-day supply change, sUSDS net inflow exceeded $3 billion, while sUSDe actually flowed out nearly $1.6 billion. On paper, Sky is already far ahead.

However, I think it's premature to say Ethena is out of the game.

Those guys at Guy are no pushovers. When the real bull market comes, the high yield narrative can easily reignite market enthusiasm again.

Plus BlackRock's BUIDL is also shrinking, while traditional RWA track's USYC is quietly absorbing capital, the two Maple products are basically lying flat.

Don't get fooled by the big shots again. We'll see the truth in Q1/Q2, it's still too early to bet now.

SKY0,12%

ENA5,45%

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