Ethena stablecoin USDe redemption hits record high of $268 million in one day

03/03 12:51

Wechat scan to share

On March 3rd, according to Dune data, the stablecoin USDe experienced its largest single-day redemption in history on March 1st, totaling $2.68 billion, resulting in a decrease of approximately 4.7% in the total circulation of USDe.

The data shows that this redemption activity was mainly driven by two large holders: address 0x59 redeemed approximately 180 million USDe, while Sky redeemed approximately 70 million USDe.

Comments

All Comments

Recommended for you

cointelegraph · 04/16 02:08

CleanSpark to start selling Bitcoin in 'self-funding' pivot

CleanSpark plans to sell mined Bitcoin each month and has secured a $200M credit line from Coinbase Prime as it shifts toward self-funding operations.
CointimeSG · 04/16 01:51

Coinbase Monthly Outlook: How Do You Define a Crypto Bear Market?

BTC and the COIN50 Index have recently broken below their respective 200DMAs, which signals a potential bear market for crypto.
cointelegraph · 04/15 01:51

Mantra CEO says OM token recovery ‘primary concern’ but in early stages

Mantra CEO John Mullin has denied insider dumping and outlined plans for OM token recovery and ecosystem support after the token’s collapse, which could include buybacks.
Stephen Moore · 04/14 08:09

Vitalik Buterin says the app layer needs ‘good social philosophy’ most

Ethereum's co-founder pointed to Railgun and Polymarket as examples of apps with a good social philosophy, while Pump.fun and FTX are examples of bad social philosophy.
04/14 08:03

Major European stock indices opened higher and ended higher, with the UK FTSE 100 index rising by 2%.

main stock indexes in Europe opened higher and continued to rise, with the UK's FTSE 100 index up 2%, Germany's DAX index, France's CAC40 index, Italy's FTSE index, and the Euro Stoxx 50 index all up by about 2.4%.
EMC Labs · 04/14 07:08

The “reciprocal tariff war” has entered its second phase, and global risk assets have begun to bottom out (04.07~04.13)

The main points of observation are whether the subsequent "reciprocal tariffs" will escalate conflicts, whether the Federal Reserve will cut interest rates "in a timely manner", and whether the US economy will fall into recession.
Crypto Daily · 04/14 07:08

M3 DAO and MetaMars Join Forces to Deepen Their Engagement in the Turkish Market, Promoting Ecological Development with Millions of KOLs

M3 DAO and MetaMars: Utilizing KOLs to Forge a New Journey in Turkey
EMC Labs · 04/14 07:08

"Reciprocal tariffs" caused the Nasdaq to fall into a technical bear market, and BTC once again stepped back on the annual line. The market expects the probability of a rate cut in June to exceed 90%.

The short-hand group is currently still under pressure of 16% floating losses, and the collapse of this group will lead to further price falls.
Mint Blockchain · 04/14 07:08

Understanding SuperchainERC20: The Key Solution for Asset Interoperability in the OP Superchain

SuperchainERC20 is a standard designed to achieve asset interoperability within the OP Superchain ecosystem.
Crypto Daily · 04/14 07:07

MarsChain Mainnet Launches, Empowering the Metaverse Blockchain Ecosystem

MarsChain team is closely collaborating with MetaMars to accelerate the construction of the MarsChain cross-chain bridge, aiming to break down barriers between blockchains and enable seamless circulation and interaction of assets and data.