Ethena’s USDe loses $8.3B since October crash amid ‘loss of confidence’
Ethena’s synthetic stablecoin USDe has seen its market cap cut almost in half since the Oct. 10 crash, as investors retreat from leveraged and synthetic collateral models.
10x Research said that the current weakness is less about retail capitulation and more about a deliberate pullback by regulated capital. As leverage and liquidity retreat, Bitcoin (BTC
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