Simple past tense and past participle of cheapen.(verb)
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Use "cheapened" in a sentence
"If inflation and interest rates go up, you pay back your mortgage in cheapened dollars."
"I feared the kid might be high on bazuco, a kind of cheapened cocaine, and that he was taking a knife out."
"Today, the United States and some of its Western partners -- in particular, Britain and France, which have their own narrow interests in not having the strategic cachet of their small strategic arsenals "cheapened" by the emergence of more states (especially in the "developing" world) that have mastered the nuclear fuel cycle -- focus on Iran's work on uranium enrichment as apocalyptically dangerous."