USDe Plunges on Binance as Exchange Risks Come Into Focus
Ethena USDe (USDe)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that USDe has plunged on Binance, bringing exchange risks into focus. The coverage is authored by Alexander Zdravkov, a crypto journalist and market analyst specializing in digital assets, blockchain technology, and the rapidly evolving cryptocurrency market. Zdravkov entered the industry more than four years ago, drawn to the speed of innovation in crypto and the potential of blockchain-based systems.
How the market reacted
Whalio's own Binance spot order flow for USDe, measured when this story was written up on 22 September 2026. Not the outlet's figures.
USDe is currently trading at $0.9998 on Binance spot markets. Over the last hour, buy pressure has weakened significantly, with a buy ratio of just 16.5% and a negative volume delta of -$66,394. However, this short-term weakness contrasts with the 4-hour window, where the buy ratio stands at 72.0% and the volume delta is positive at +$973,603. This indicates that buying pressure is building over the medium term, even as it fades in the immediate hour. The buy ratio shows the proportion of trades executed by buyers, while the volume delta measures the net difference between buy and sell volume.
The latest daily buy ratio of 51.8% sits at the 56th percentile of the last 322 days, against a median of 48.5% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for USDe, averaged over the days leading up to the story.
Compared to the preceding week, today's activity represents an unusual spike in volume, which is 3.83 times the 7-day average. Despite this elevated volume, the buy ratio for the latest day is 10.2 points lower than the weekly average of 46.0%. Net buying has occurred on only 3 of the past 7 days, and the total volume delta for the week is -$1,015,720. While the 24-hour volume delta is -$1,460,117, the weekly trend shows a broader outflow of net buying volume over eight days. The price has remained flat with a 0.0% change over the 8-day period, contrasting with the recent volatility in trading volume.