According to Odaily Planet Daily, Ethena officials posted on X: "Due to market volatility and large-scale liquidations, the secondary market price of USDe has fluctuated. We can confirm that USDe's minting and redemption functions have always remained operational without any downtime, and USDe remains overcollateralized. Affected by liquidations, the market's contract trading price has been and continues to be lower than the spot price. Because Ethena holds spot and shorts contracts, this has unexpectedly generated more additional income for USDe. Therefore, due to the impact of this sudden event, USDe's overcollateralization ratio will be higher than yesterday."