USDe Stablecoin Dips to $0.65 but Remains Overcollateralized
đïžOn Oct 11, 2025, USDe/USDT on Binance dropped to a low of $0.65 𩞠Ethena Labs attributed the move to market volatility and liquidations. Minting and redemption remain fully operational, and the stablecoin is overcollateralized đč Liquidations have converted short positionsâ uPNL into protocol revenue, boosting USDeâs collateralization.