USDe Supply Falls Back to November 2024 Levels After $1.6B Net Outflow

DefiLlama data show USDe recorded about $1.6 billion in net outflows over the past five days, pushing its circulating supply back to levels last seen in November 2024. Total USDe supply is now around $4.278 billion. Analysts say the recent Kelp DAO incident may have sparked a broader DeFi pullback, prompting some whale capital to exit.