Ethena USDe USDE price
Rank #25Live price from (median across exchanges)
USDE to USD converter
How to buy USDEEthena USDe price chart
USDE market stats
- Market cap
- $4,901,267,346
- Fully diluted valuation
- $4,901,267,346
- 24h trading volume
- $28,269,989
- Volume / market cap
- 0.0058
- Circulating supply
- 4,903,166,407 USDE
- Total supply
- 4,903,166,407 USDE
Ethena USDe markets
Updated 6h ago| # | Exchange | Pair | Price | Spread | 24h Volume | Share | Trust |
|---|---|---|---|---|---|---|---|
| 1 |  Bybit | USDE/USDT | $0.9999 | 0.02% | $2.57M | 10.6% | 9out of 10, high trust |
| 2 |  Binance | USDE/USDT | $1.00 | 0.02% | $1.65M | 6.8% | 10out of 10, high trust |
| 3 |  MEXC | USDE/USDT | $0.9999 | 0.02% | $1.39M | 5.7% | 9out of 10, high trust |
| 4 |  WEEX | USDE/USDT | $0.9997 | 0.02% | $1.26M | 5.2% | 8out of 10, high trust |
| 5 | Bybit | USDE/USDC | $0.9996 | 0.01% | $639.88K | 2.6% | 9out of 10, high trust |
| 6 |  LBank | USDE/USDT | $1.0 | 0.02% | $372.9K | 1.5% | 9out of 10, high trust |
| 7 |  Biconomy.com | USDE/USDT | $1.0 | 0.09% | $316.94K | 1.3% | 7out of 10, medium trust |
| 8 |  Toobit | USDE/USDT | $1.0 | 0.02% | $228.54K | 0.9% | 9out of 10, high trust |
| 9 |  XT.COM | USDE/USDT | $1.00 | 0.05% | $164.9K | 0.7% | 7out of 10, medium trust |
| 10 |  Bitunix | USDE/USDT | $1.00 | 0.02% | $92.22K | 0.4% | 8out of 10, high trust |
10 of the 64 Ethena USDe markets we track. Exchanges with a trust score of 7+ come first, then by 24h volume; share is of the combined volume of all 64. See our guide to buying Ethena USDe or all crypto exchanges.
Ethena USDe on decentralized exchanges
The deepest on-chain pools for Ethena USDe, by real liquidity.
| Pair | DEX | Chain | Liquidity | 24h Volume | 24h Trades |
|---|---|---|---|---|---|
| USDe/FRAX | Curve stbl | Ethereum | $34.04M | $53.18K | 22 |
| MNT/USDe | Uniswap v3 | Ethereum | $3.89M | $224.21K | 141 |
| USDe/USDT | PumpSwap | Solana | $2.5M | $1.16K | 26 |
| USDe/USDT | Agni | Mantle | $1.53M | $39.04K | 22 |
| USDe/USDG | Meteora DLMM | Solana | $1.53M | $613.5K | 65 |
| USDe/USDC | Uniswap v3 | Ethereum | $1.46M | $1.45M | 54 |
| USDe/USDC | Agni | Mantle | $1.44M | $5.88K | 35 |
| USDe/PYUSD | Orca wp | Solana | $1.29M | $1.62M | 232 |
| USDe/USDT | Curve stbl | Ethereum | $1.28M | $701.11K | 65 |
| USDe/USDC | Uniswap v3 | Base | $1M | $15.56K | 6 |
Ethena USDe price today
Ethena USDe (USDE) is priced at $0.9996. That places it among the 25 largest cryptocurrencies, at #25 with a market cap of $4.9B. Over the last day, $28.27M worth of USDE was traded.
As a stablecoin, USDE is designed to hold a steady value, and it is trading within 0.04% of its $1 target.
There are about 4.9B USDE in circulation, and no maximum supply is listed.
What is Ethena USDe?
Ethena USDe is a synthetic dollar created by Ethena Labs. Instead of being backed by money in a bank account, USDe keeps its dollar value through a strategy called delta hedging: the protocol holds crypto assets such as ether and bitcoin, or liquid stablecoins, and opens equal short positions in futures markets so price moves cancel each other out.
This design lets USDe grow quickly without relying on traditional banks, and it earns income from staking rewards and the funding payments that futures traders pay. Users who stake USDe receive sUSDe, which grows in value as that income is passed on. Yields change over time and can drop sharply when funding rates turn low or negative.
USDe has become one of the largest dollar-pegged assets in crypto and is widely used as collateral in DeFi lending markets. Its risks are different from a fiat-backed stablecoin, including exchange, custody and funding-rate risk, which Ethena tries to manage with a reserve fund.
USDE FAQ
What is the price of Ethena USDe today?
Ethena USDe is trading at $0.9996, +0.00% over the last 24 hours, with $28.27M in 24-hour trading volume.
What is Ethena USDe's market cap?
USDE has a market capitalization of $4.9B, ranking it #25 among cryptocurrencies. Market cap is the current price multiplied by the circulating supply.
How many USDE coins are there?
About 4.9B USDE are circulating. No maximum supply is listed.
Price history
- All-time high
- $1.03-3.3% · Dec 9, 2025
- All-time low
- $0.9295+7.5% · Oct 3, 2024
Links
- Whitepaper
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