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TechFlow reported on March 3 that according to Dune data, Ethena's stablecoin USDe experienced its largest single-day redemption on March 1, totaling $268 million, causing a roughly 4.7% decline in the circulating supply of USDe.
Data shows this redemption activity was primarily driven by two large holders: address 0x59...705d redeemed approximately 180 million USDe, while Sky redeemed around 70 million USDe.
According to Dune data, Ethena's stablecoin USDe experienced its largest single-day redemption on March 1, totaling $268 million, causing the circulating supply of USDe to drop by approximately 4.7%. The data shows that this redemption was primarily driven by two large holders: address 0x59...705d redeemed about 180 million USDe, while Sky redeemed around 70 million USDe.
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