At around 3:20 PM today, the price of USDe, a US dollar-pegged stablecoin issued by ENA, briefly plummeted to $0.9500 on Bybit. It has since recovered to $0.9985. ENA also saw a drop of 2% in the five minutes around 3:25 PM, but has since recovered those losses. ENA is currently trading at $0.9527 on Bybit, down 17.14% over the past 24 hours. The reason for the sudden plunge in USDe's price is not yet known, but it is likely due to a combination of factors, including the recent volatility in the cryptocurrency market and the fact that USDe is a relatively new stablecoin. It is important to note that USDe has since recovered from its brief plunge and is now trading at a price that is close to its peg to the US dollar. This suggests that the plunge was likely a temporary event and that USDe remains a stablecoin that is backed by real assets. ```