Market-cap rank #6
Ethena USDe
USDe · Synthetic
Current price
$0.9996
Peg deviation: -0.04%
USDe is a synthetic dollar from Ethena that uses crypto collateral and derivatives hedges rather than traditional bank reserves. Its design introduces exchange, custody and funding-rate risks.
$4.00B
Market cap
3.996B
Circulating supply
-0.73%
1-day change
-5.57%
7-day change
-11.08%
30-day change
USD
Peg
30
Supported chains
Decentralized
Issuer model
Chain Supply Distribution
| Network | Supply | Share |
|---|---|---|
| Ethereum | $2.54B | 63.5% |
| Solana | $536.61M | 13.4% |
| Base | $249.73M | 6.2% |
| Plasma | $170.63M | 4.3% |
| BSC | $168.48M | 4.2% |
| TON | $120.28M | 3.0% |
| Robinhood Chain | $108.99M | 2.7% |
| Mantle | $65.73M | 1.6% |
| Hyperliquid L1 | $17.66M | 0.4% |
| Berachain | $16.51M | 0.4% |
| Arbitrum | $1.76M | 0.0% |
| Blast | $931,303.1401 | 0.0% |
| Monad | $766,269.5129 | 0.0% |
| Avalanche | $639,109.3428 | 0.0% |
| MegaETH | $449,090.0255 | 0.0% |
Major Risks
Ethena USDe can lose its peg. Depending on its design, holders may face issuer, reserve, redemption, collateral, governance, oracle, smart-contract, bridge and liquidity risks. A reserve or transparency report is evidence to review—not a guarantee of safety.
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