Ethena USDe Market Cap Plummets 40% After Recent Crash
Ethena USDe Market Cap Plummets 40% After Recent Crash
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The synthetic stablecoin Ethena USDe has experienced a significant decline, with its market capitalization shedding 40%—over $5 billion—in just three and a half weeks following an event dubbed the 'Black Friday' crash on October 10.
Ethena USDe Market Capitalization Sees Sharp Contraction
Reports from The Defiant indicate that Ethena USDe, a prominent synthetic stablecoin, has faced a substantial downturn in its market performance. Its market capitalization has dropped by an alarming 40% since October 10, representing a loss of over $5 billion within a mere three-and-a-half-week period. This rapid decline follows a market event referred to as the 'Black Friday' crash.