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Crypto

Aave deploys V3 lending protocol and launches GHO stablecoin on Monad

Aave has deployed its V3 lending protocol on Monad and begun supporting 12 assets, including the GHO stablecoin. The Monad Foundation plans to provide $15 million in incentives during the first 12 months after service activation. The deployment applies Chainlink Smart Value Recapture from the start, returning part of value generated during liquidations to the protocol. The Monad Foundation will buy 10 million GHO and hold it for at least six months.

Crypto

StablecoinX makes Nasdaq debut, bets on Ethena ecosystem

Stablecoin infrastructure firm StablecoinX will begin trading on Nasdaq on June 26 local time after completing a merger with TLGY Acquisition. The company focuses on supporting the Ethena ecosystem through decentralised validator nodes and software infrastructure, calling itself the first listed stablecoin infrastructure firm focused on Ethena. Ethena’s USDe holds about 1.4 percent of the stablecoin market. StablecoinX holds about 3 billion ENA tokens valued at about $275 million.

Crypto

Stablecoin market share doubles as total crypto market cap halves

Stablecoins increased their share of the crypto market to 15 percent from 7.6 percent during an ongoing market correction, even as total crypto market capitalisation fell about 50 percent to around $2.1 trillion, a report showed. Stablecoin supply rose only 10.6 percent to $316 billion, with the shift driven mainly by a shrinking market rather than a surge in issuance. Tether’s USDT led growth, while concentration remained high.