USDe Icon

$USDe

$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
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Learn more about this asset directly from the issuer's website.

Market Cap

$4,104,419,680

7.66%from 30d ago

Price

$1.00

+0.13%from 30d ago

Holders

54,021

+7.84%from 30d ago

Monthly Transfer Volume

$12.18B

+38.68%from 30d ago

Monthly Active Addresses

13,691

+19.48%from 30d ago

Stablecoins Metrics

Show % of Total

Market Cap by Network

as of 08/02/2026

Key Facts

Name
Ethena USDe
Ticker
USDe
CUSIP
ISIN
Platform
Tokenization Type
Type
Manager
Asset Class
Underlying Assets
Cryptocurrencies - ETH
Eligible Investors
Inception Date
09/01/2024
Use Of Income
Accumulates
Management Fees
0%
Performance Fees
0%

Market Data

Total Value
$4,105,542,756
NAV
$1.00
Price
$0.9997
Token Supply
4,644,859,705.20
Circulating Supply
4,644,859,705.20
7D APY
30D APY
Holders
54,021
Trailing 30D Active Addresses
13,691
Monthly Transfer Count
609,393
Monthly Transfer Volume
$12,181,280,659

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
Native
ERC-20
3,876,519,849.22
Native
SPL
538,566,412.95
Native
ERC-20
214,360,478.09
Native
ERC-20
14,662,429.11
Bridged
ERC-20
750,535.83

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
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
Terms

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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