Ethena USDe price chart
- Market cap
- $4.73B
- 24h volume
- $49.91M
- Volume / market cap
- 1.06%
- Tracked market-cap share
- 0.19%
- Global dominance
- 0.18%
- Market pairs reported
- 336
What USDE is doing relative to the market
Calculated from CryptoDigest’s 50-asset published research universe—not a claim about the entire crypto market.
USDE is 0.00 percentage points above the Synthetic dollar average in our tracked set.
Reported 24-hour volume equals 1.06% of market cap and 0.03% of tracked-universe volume.
509 hourly candles retained; maximum peak-to-trough move observed was -0.10%.
USDE performance by period
| Period | Return | Context |
|---|---|---|
| 1 hour | +0.00% | Provider snapshot |
| 24 hours | +0.05% | Rank #38 of 50 |
| 7 days | -0.01% | Rank #17 of 50 |
| 30 days | -0.01% | Live market snapshot |
| 60 days | -0.03% | Live market snapshot |
| 90 days | +0.07% | Live market snapshot |
Against Bitcoin: USDE performed 1.26 percentage points worse over 24 hours.
What the headline valuation includes
- Circulating supply
- 4.732B USDE
- Total supply
- 4.732B USDE
- Maximum supply
- No fixed maximum
- Fully diluted value
- $4.73B
- 24h volume change
- -37.99%
- Supply model
- USDe is minted and redeemed by approved participants against eligible backing assets
Fully diluted value applies the current price to the provider’s reported eventual or total supply. It is a scenario, not a forecast.
What is Ethena USDe?
USDe targets a dollar value without relying primarily on cash in a bank account. Ethena holds crypto collateral and uses offsetting derivatives positions intended to reduce directional exposure, while a reserve fund and liquid stable assets are designed to absorb certain funding and market stresses.
The hedge introduces risks absent from a simple cash-reserve model: exchange and custodian failure, funding-rate reversals, basis changes, collateral liquidity and operational execution. Staked sUSDe can receive protocol-generated rewards, but USDe itself and sUSDe have different risk and liquidity profiles.
USDe is not a conventional fiat-backed stablecoin and its dollar target is not an insured one-to-one bank-deposit claim.
No material active explanation
Detector output is shown only when evidence crosses a materiality threshold; price movement alone is not treated as a cause.
No evidence-backed catalyst is currently flagged.
That is an honest unknown, not evidence that no catalyst exists.
Latest Ethena USDe news
No original CryptoDigest article currently focuses on Ethena USDe. Browse the newsroom for broader market coverage.
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Continue with assets in the same sector first, then the largest tracked markets.
Price, market cap and 24-hour volume come from normalized provider snapshots, timestamped Sep 17, 2026, 8:39 AM UTC.
The chart uses stored 5-minute and hourly OHLC observations. It labels partial coverage instead of stretching it into a longer history.
Ranks, sector deltas and shares use the 50 assets in CryptoDigest’s published research universe. Turnover is volume ÷ market cap.
Supply and extended returns come from the live market-data feed; network facts link to project documentation. Nothing here is investment advice.