The redemption amount of Ethena's stablecoin USDe has approached 100 million USD this week

Since Monday, the redemption amount of Ethena's USDe stablecoin has approached 100 million USD. The severe market turbulence may have triggered user redemptions, putting some pressure on the protocol. Meanwhile, USDe is able to maintain its peg to the dollar. However, Ethena's price page on The Block shows that its price fluctuated slightly, once touching 0.997 USD and then rebounding back to around 1 USD. The current supply of USDe exceeds 3 billion tokens, which is 50% higher than the supply of 2 billion in April.