USDe market cap drops from 14.7 billions USD to around 6.4 billions USD after crash due to trust crisis
According to ChainCatcher, a 10x Research report states that since the market crash, the market capitalization of Ethena's synthetic stablecoin USDe has evaporated by approximately $8.3 billion, dropping from $14.7 billion to about $6.4 billion, nearly halving. This sharp decline reflects a dramatic loss of investor confidence in leveraged and synthetic collateral models.
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