Ethena

Altcoins

Weekly Crypto Losers — March 30 to April 5, 2026

A token built around AI hype collapsed 70% after on-chain investigators exposed extreme supply concentration. The rest of the losers list told a more familiar story: a macro risk-off week, revenue pressure in DeFi, and a July token unlock hanging over Worldcoin like a known weight.

By Jan Kara

Ethena Overview

Ethena issues USDe, a synthetic dollar that holds its peg through a delta-neutral hedge of staked crypto and short perpetual positions rather than bank reserves. This tag tracks USDe supply growth, the funding-rate yield paid to sUSDe holders, the collateral and liquidity risks that critics flag, and Ethena’s rapid rise as one of the largest stablecoins. Coinliva covers the yield mechanics, the risk debate, and whether a synthetic dollar can scale safely.