USDe market cap shrinks again, now falling below $12.7 billion, with over $2 billion lost this week
Jinse Finance reported that, according to Coingecko data, the market capitalization of the stablecoin USDe issued by Ethena Labs has dropped from about $13.5 billion yesterday to below $12.7 billion, currently reported at $12,660,245,970, shrinking by more than $2.16 billion compared to about $14.82 billion seven days ago. During the sharp cryptocurrency decline on October 11, USDe experienced a severe depeg from the US dollar, falling as low as $0.62 on some decentralized exchanges, with a depeg rate as high as 38%. The price has now recovered to the $1 range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New York Federal Reserve Survey: Service Sector Price Increases Hit Fastest Pace Since 2022, Business Activity Index Drops to Lowest Since March
A survey released by the New York Fed on Friday shows that in October, sales prices for service sector firms increased at the fastest pace since 2022, with input costs remaining robust and supply conditions continuing to deteriorate. Businesses’ pessimism about the commercial outlook has significantly intensified, with the overall business activity index falling by 12 points from the previous month to minus 20.7, marking the weakest reading since March.
Raoul Pal Holds Bitcoin, Solana and Ethereum, but Calls One Wildly Undervalued
Ethos Technologies President Wang Lingke Reports Sale of $4.54 Million in Common Shares
Exclusive report - Boeing memorandum says sales chief McMullen will retire
Crypto prices
More
