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The market capitalization of the stablecoin USD has fallen below 9 billion USD, a decrease of about 45% in the past month.
On November 7, according to DefiLlama data, the market capitalization of the stablecoin USDe issued by Ethena Labs has now fallen to 8.95 billion USD, a decrease of about 45% from the market capitalization peak of approximately 16 billion USD at the beginning of October. USDe once experienced a severe decoupling from the US dollar during the big dump in Crypto Assets on October 11, dropping to 0.65 USD on some decentralized trading platforms.