Bitcoin Falls 8%, Drops Below $62K Before Rebound

Among the protocols being closely watched is Ethena, the buzzy Ethereum project behind USDe, a “synthetic dollar” built to mirror the price of the US dollar. Ethena has attracted more than $2 billion in deposits, but it uses a controversial method for maintaining USDe’s one-dollar “peg” that hasn’t been tested under such adverse market conditions.

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• Source: https://www.coindesk.com/markets/2024/04/13/bitcoin-falls-8-drops-below-62k-before-rebound/?utm_medium=referral&utm_source=rss&utm_campaign=headlines