🚨 $ENA’s TVL Collapses 50% – Is This the Beginning of the End? 📉

Ethena’s Total Value Locked (TVL) has plummeted over 50% since the “1011” event, dropping from $14.305 billion to just $6.551 billion. The core of the issue? Massive net outflows from its stablecoin, USDe – exceeding $8 billion since October, with a staggering $5 billion+ exiting in October alone.

This isn’t just a dip; it’s a clear signal of eroding market confidence in Ethena’s model as crypto markets tighten and risk aversion rises. 😬 Expect continued pressure on Ethena’s operations and stability if withdrawals persist. This could have wider implications for the stablecoin landscape.

#DeFi #Stablecoins #CryptoNews #Ethena 💥

ENAUSDT

Perp

0.198

-1.39%