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After the big dump on 1011, the leverage in the stablecoin financial management sector is rapidly shrinking.
Take USDe as an example, in less than a month, its market value directly fell from 15 billion to 8.6 billion, a drop of 43%. The speed of this shrinkage is indeed a bit fierce.
When the market is booming, anyone can make money. It is only when the tide of funds recedes that you can see which projects are truly valuable and which are just swimming naked.