USDe Stablecoin Market Cap Falls Below $9 Billion, Decreasing by Approximately 45% in the Past Month

BlockBeats News, November 7th, according to DefiLlama data, the market capitalization of the USDe stablecoin issued by Ethena Labs has now fallen to $8.95 billion, a decrease of approximately 45% from its market cap high of around $16 billion at the beginning of October.

During the cryptocurrency market crash on October 11th, USDe briefly broke its peg to the US dollar and dropped to as low as $0.65 on some decentralized exchanges.