USDe Pegs Shaken but Not Broken on Binance

Ethena's synthetic dollar USDe briefly lost its peg on Binance, falling to as low as $0.9202 USDT on September 22.

The price drop occurred ahead of scheduled wallet maintenance and was short-lived, with the USDE/USDT pair recovering toward $0.99 within minutes and later returning close to its normal $1 trading level.

No confirmed cause for the Binance wick has emerged, highlighting potential liquidity or maintenance risks for DeFi stablecoins.