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USDm supply has dropped by $200M recently
You might think money is leaving MegaETH, but that’s not the case
It seems most of it moved into USDe to rebalance pools, so that means less revenue for MegaETH, but better overall liquidity for DeFi
MegaETH still needs to make sure USDe doesn’t eat too much of USDm market share, but I’m sure they’re cooking on it