The market capitalization of USD has once again shrunk, now falling below 12.7 billion USD, with a reduction of over 2 billion USD this week.

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According to a report from 深潮 TechFlow on October 12, the market capitalization of the stablecoin USDe issued by Ethena Labs has decreased from about $13.5 billion yesterday to below $12.7 billion, currently reported at $12,660,245,970, which is a reduction of over $2.16 billion compared to approximately $14.82 billion seven days ago.

USDe experienced a severe decoupling from the USD during the cryptocurrency crash on October 11, dropping as low as 0.62 USD on some decentralized exchanges, with a decoupling rate of up to 38%. The current price has now recovered to the 1 USD range.

USDE0.11%
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