Wu Blockchain reported that Ethena (ENA)'s synthetic dollar stablecoin, USDe, plummeted to 0.9202 USDT on the Binance USDE/USDT spot market around 2 PM today before rapidly recovering to the 0.9996 USDT level. Earlier, the exchange had announced a suspension of deposits and withdrawals due to an infrastructure wallet upgrade scheduled for 3 PM today. In this regard, the media explained, "As of now, no evidence has been found to support a correlation between USDe's temporary price drop and the wallet upgrade."
