[The Market Cap of USDe Has Reached $13 Billion] According to a chart published by Tom Wan, the market cap of USDe has reached $13 billion. Excluding Ethereum, the total market cap of USDe on other chains accounts for less than 4%. Possible reasons include: - Lack of secondary market liquidity for acquiring sUSDe - Absence of Pendle markets/PTs and YTs, which do not support recycling in lending markets - DRIP has already/will soon change the above situation for Arbitrum and has increased the market cap of USDe by 6x.