According to Wu Blockchain, data disclosed by DefiLlama and analyst Tom Wan shows that Ethena stablecoin USDe's supply on the Solana network has surged by over $450 million in the short term, driven by incentive activities on the Solana chain. The total supply has now reached $560 million, pushing USDe's overall market cap back to the $4.4 billion level. Tom Wan noted that while this strategy has previously triggered explosive growth on other chains, retaining funds has always been a challenge. Past liquidation events, hacks, and weakened incentives have all led to outflows after hitting peak levels. This latest activity will serve as a new test for its retention rate. https://(wublock123.com)/news/usde-market-cap-hits-4-4b-driven-by-solana-onchain-activity-61201