
Ethena’s USDe vs miUSD: The Stablecoin War for Bitcoin Liquidity
How Omnichain Design and Delta-Neutral Strategies Are Competing for $30B in ETF Inflows
The Battlefield: Bitcoin’s $1.3T Liquidity Pool
With Bitcoin ETF inflows surpassing $30B in 2024, a new front has opened in the stablecoin wars:
* Ethena’s USDe: Delta-neutral synthetic dollar backed by BTC collateral + perps (5.