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Ethena USDeUSDE

#26crypto·USDE / USD
Trade USDE
$0.9986
$0.00003675(-0.00%)today
LIVE · refreshed 18:00 UTCDay range $0.9983 – $0.9989
Day High$0.9989
Day Low$0.9983
Day Range$0.000552
Volume 24h$68.46M
Market Cap$4.49B
Rank#26
ATH—
From ATH—
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About Ethena USDe

Ethena USDe is a "synthetic dollar" issued by the Ethena protocol on Ethereum, launched in early 2024. Unlike traditional fiat-backed stablecoins, USDe maintains its peg by holding long crypto collateral (ETH, BTC and liquid staking tokens) hedged with equivalent short perpetual-futures positions on derivatives venues — a delta-neutral structure. Holders can stake into sUSDe to earn yield generated from funding rates and staking rewards. USDe is not a bank deposit and not 1:1 fiat-backed — its peg depends on Ethena's collateral, the smart contracts and the venues where the hedges are held. Funding rates can go negative; understand the protocol risks before holding.

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