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After the "collapse" of USD, it has continued to decline, with its market capitalization shrinking by nearly half in two months.
【Coin World】USDe has not been doing well lately. This synthetic stablecoin launched by Ethena has been on a downward trend since the “1011 crash”, with a net outflow of 8.3 billion USD, and the fall has been astonishing.
The data speaks volumes: on October 9, the market value of USDe was still close to 14.7 billion USD, but in just over two months, it fell to around 6.4 billion USD. This means that the market value has directly shrunk by nearly half. Behind this dramatic fluctuation is a serious shake in market confidence in stablecoins.
The continuous outflow of large amounts of funds indicates that investors are voting with their feet. This is not a good sign for the entire stablecoin ecosystem.