USDe is a synthetic dollar from Ethena that maintains its peg through delta-hedged crypto positions rather than holding cash reserves. Its yield comes from a combination of staking rewards and perpetual futures funding rates, which makes it structurally different — and exposed to different risks — than fiat-collateralized stablecoins like USDT or USDC.
- Macro context: USDE is part of the tokenized money market, which represents only ~0.290% of global M2 money supply today.
Data as of Sep 3, 2026
Price performance
7D
+0.02%
14D
-0.02%
30D
-0.03%
1Y
-0.04%
All-time
+0.20%
Market Cap
$4.68B
24h Volume
$15.16M
Best On-Chain APY
4.75%
On-Chain Holders
220.27K
Summed across all deployed chains (per-chain wallets not de-duplicated)
Key facts
via /coins/{id}Market Cap Rank
#23
Circulating Supply
4.69B
Total Supply
4.69B
All-Time High
$1.03 · 2025-12-09
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