Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always do your own research before making investment decisions. Cryptocurrency investments are volatile and carry significant risk.
Ethena USDe (USDE) is a stablecoin designed to maintain a stable value, typically pegged 1:1 to a fiat currency like the US dollar. It is currently ranked #23 by market capitalization, trading at $0.9987 with a total market cap of $4.48B.
Ethena USDe is a synthetic dollar that targets a $1 peg through crypto collateral, stablecoin reserves, institutional lending, RWA exposure and delta-neutral hedging. CoinGecko showed about $4.5B market cap and a near-par $0.999 price on June 19, 2026, still making USDe one of the largest non-fiat-backed stable assets but below its 2025 peak. The June launch of the Coinbase high-yield vault, powered by Ethena, Morpho and Steakhouse, crossed $100M of deposits in four days, showing renewed...
$0.9987
Data from CoinGecko, on-chain analytics, and official project documentation. View methodology
Cycle Potential
0x
vs. bull target
Probability
0%
Success chance
Risk Level
0/10
Low Risk
Market Cap
$4.48B
Volume
$82.87M
Circulating Supply
4.48B
Total Supply
4.48B
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