Key Notes

USDe's market cap has dropped from $9.3 billion on November 1 to $7.1 billion on November 30.

The USDe token redemption saw a 24% decline in supply in November.

Meanwhile, PYUSD is seeing a reverse with a massive boost in supply from $1.2 billion to $3.8 billion in 3 months.

USDe, Ethena’s synthetic-dollar stablecoin, has seen a sharp fall in its monthly supply as most of its counterparts attracted billions in inflows. The token also registered declines on some of its other metrics, including token redemption. Notably, the general stablecoin market appears to be experiencing meteoric growth at this time

Are USDe Users Selling Their Stablecoin Holdings?

From a market capitalization of $9.3 billion on November 1 to $7.1 billion on November 30, USDe may just have had one

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