BlockBeats News, October 12th, according to DefiLlama data, the market capitalization of the stablecoin USDe issued by Ethena Labs has dropped from around $14.284 billion yesterday to below $12.7 billion, currently standing at $12.699 billion, a decrease of 14.3% in the past week.
Earlier reports indicated that during the cryptocurrency market crash on October 11th, USDe temporarily lost its peg to the US dollar, trading as low as $0.65 on some decentralized exchanges. The price has now recovered to the $1 range.
