USDe Icon

$USDe

Offered byEthena icon
Ethena

$USDe

Ethena USDe

USDe is a synthetic dollar stablecoin that maintains its peg through delta-neutral hedging strategies using derivatives. The unstaked version is designed to hold its $1 value without generating returns, while staked USDe (sUSDe) earns yield from staking rewards and funding rates.

Stablecoins
Offered byEthena icon
Ethena
Explore issuer purchase options or request access through RWA.xyz.

Market Cap

$4.78B

▲+5.57%from 30d ago

Price

$1.00

▼0.06%from 30d ago

Holders

71,206

▲+4.21%from 30d ago

Monthly Transfer Volume

$10.49B

▼7.41%from 30d ago

Monthly Active Addresses

15,861

▼10.47%from 30d ago

Ethena USDe Metrics

Market Cap by Network

as of 10/10/2026

Key Facts

Name
Ethena USDe
Ticker
USDe
CUSIP
—
ISIN
—
Platform
Ethena Icon
Ethena
Tokenization
Type
Distributed
Tokenization Sponsorship
Issuer-Sponsored
Type
—
Asset Manager
—
Asset Class
Stablecoins
Currency
US Dollar Icon
US Dollar
Eligible Investors
Inception Date
09/01/2024
Use Of Income
Accumulates
Management
Fees
0%
Performance
Fees
0%

Market Data

Total Value
$4,788,308,681
▼
NAV
$1.00
Price
$0.9993
▼
Token Supply
5,764,223,530.75
▲
Circulating Supply
5,764,223,530.75
▲
7D APY
—
30D APY
—
Holders
71,206
▲
Trailing 30D
Active Addresses
15,861
▼
Monthly
Transfer Count
406,700
▼
Monthly
Transfer Volume
$10,486,667,190
▼

Tokens

Network
Type
Tokenization
Type
Token Standard
Token Supply
Circulating Supply
Bridged Supply
Holders
Trailing 30D
Active Addresses
Monthly
Transfer Volume
Monthly
Transfer Count
Contract Address
Ethereum LogoEthereum
Native
Distributed
ERC-20
4,788,308,681.07
▲
Solana LogoSolana
Native
Distributed
SPL
493,620,467.12
▼
Robinhood LogoRobinhood
Native
Distributed
ERC-20
364,754,696.27
▲
Monad LogoMonad
Native
Distributed
ERC-20
108,000,176.72
▲
Avalanche C-Chain LogoAvalanche C-Chain
Bridged
Distributed
ERC-20
9,539,509.57
▲

Primary Market

Eligible Investors
—
Base Assets
USD
Subscription Time
—
Min.
Investment
—
Subscription
Fees
0%
Subscription Description
—
Redemption Time
—
Minimum Redemption Amount
—
Redemption
Fees
0%
Redemption Description
—
KYC Description
—

Assessments & Ratings

Provider
Rating
Document
S&P Global Ratings

Service Providers

Platform
Ethena Icon
Ethena
Asset Manager
—
Sub-Advisor
—

Custodian

Legal Identifier

Anchorage Digital Bank N.A.
549300JJSDEHXA1AKJ69
Crypto Custodian
—
Fund Administrator
—
Traditional Broker
—
Crypto Broker
—
Auditor
—
Transfer Agent
—
Paying Agent
—

Legal & Regulatory

Issuer
Ethena
Issuer LEI
—
Issuer CIK
—
Domicile
British Virgin Islands Flag
British Virgin Islands
Regulatory Framework

Non-Regulated

Dispute Resolution Country
—
Account
Segregation
Bankruptcy
Remote
Deposit
Insurance

Fees

Management
Fees
0%
Performance
Fees
0%
Other Fees
—
Redemption
Fees
0%
Subscription
Fees
0%

Holders

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holder breakdowns

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