According to Dune data, Ethena stablecoin USDe experienced the largest single-day redemption ever on March 1, with a total amount of US$268 million, reducing the total circulation of USDe by about 4.7%. Data shows that this redemption activity was mainly driven by two major players: Address 0x59 redeems about 180 million USDes, while Sky redeems about 70 million USDes.