Ethena's stablecoin USDe redemptions have approached $100 million this week
2024-08-06 09:49:51
Since Monday January ethena usde stablecoin return close to $100 milliondesk3cryptocurrencydesktopCrypto News
Ethena's USDe stablecoin has seen redemptions close to $100 million since Monday. The violent turmoil in the market may have triggered redemptions by users, putting some pressure on the agreement. In the meantime, USDe has been able to remain pegged to the dollar. However, The Block's Ethena price page shows that its price fluctuated slightly, touching $0.997 at one point before recovering to the $1 mark. USDe currently has a supply of more than 3.10 billion tokens, 50% higher than the 2 billion supply in April.
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