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Ethena USDe Price (USDe)

Ethena USDe Price (USDe)

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Currency:
USDe to USD:
1 Ethena USDe equals $ 0.999348 USD-0.03%1D
Page last updated: 2024-12-22 10:46 (UTC+0)
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Note: This information is for reference only.

Price of USDe today

The live price of Ethena USDe is $ 0.999348 per (USDe / USD) with a current market cap of $ 5.92B USD. 24-hour trading volume is $ 78.22M USD. USDe to USD price is updated in real-time. Ethena USDe is -0.03% in the last 24 hours with a circulating supply of 5.93B.
USDe Price History USD
Date ComparisonAmount Change% Change
Today$ -0.000304-0.03%
30 Days$ -0.002412-0.24%
60 Days$ -0.001283-0.13%
90 Days$ 0.000484+0.05%

USDe Market Information

24h Low & High
Low: $ 0.998474
High: $ 1.000409
The highest and lowest price paid for this asset in 24 hours.
All Time High
$ 1.00878
The highest price paid for this asset since it was launched or listed.
Price Change (1h)
-0.01%
The percentage change in price for this asset compared to 1 hour ago.
Price Change (24h)
-0.03%
The percentage change in price for this asset compared to 24 hours ago.
Price Change (7d)
-0.17%
The percentage change in price for this asset compared to 7 days ago.

USDe Market Information

Popularity
#27
Popularity is based on the relative market cap of assets.
Market Cap
$ 5.92B
Market cap is calculated by multiplying the asset's circulating supply with its current price.
Volume (24hours)
$ 78.22M
The total dollar value of all transactions for this asset over the past 24 hours.
Circulation Supply
5.93B
The number of coins circulating in the market and available to the public for trading, similar to publicly traded shares on the stock market.
Total Maximum Supply
--
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.
Fully Diluted Market Cap
$ 5.92B
The total number of coins that will ever be created for the cryptocurrency, similar to fully diluted shares in the stock market. If this data is not provided or verified by CoinMarketCap, the maximum supply is displayed as '--'.

About Ethena USDe (USDe)

USDe, created by Ethena Labs, is a dollar-pegged stablecoin launched in February 2014. Unlike traditional stablecoins backed by real-world assets like cash or gold, USDe utilizes a unique mechanism to maintain its peg: a combination of staking ETH (Ethereum) and managing derivatives on the Ethereum blockchain. This approach allows USDe to offer attractive returns to holders, with current Annual Percentage Yields (APY) exceeding 33.5% (as of June 2024).

Built on the Ethereum blockchain, USDe is an ERC-20 token, making it interoperable with various DeFi applications and protocols within the Ethereum ecosystem. Ethena Labs market USDe as a "synthetic dollar" designed for scalability, stability, and resistance to traditional financial censorship. The stability of the USDe peg is maintained through delta hedging derivatives positions against protocol-held collateral and a mint and redeem arbitrage mechanism.

Launched four months ago, the stablecoin surpassed the $3 billion market capitalization mark on June 2, 2024 to become the fourth-largest stablecoin. Ethena's founder, Guy Young, claims USDe achieved this milestone faster than any other USD-denominated crypto asset in history.

Ethena Labs, through USDe, aims to revolutionize the DeFi landscape with its Ethena Finance platform.This web-based interface allows users to transform their ETH holdings into a yield-generating synthetic dollar through USDe tokens. 

USDe sits at the core of the Ethena Protocol, powering the entire ecosystem by generating returns for participants. The live price of USDe is available and updated in real time on Binance.

People Also Ask: Other Questions About Ethena USDe

  1. What is the Ethena Protocol?

    Ethena is a synthetic dollar protocol built on Ethereum, offering a crypto-native solution for money that does not rely on traditional banking infrastructure. It also provides a globally accessible dollar-denominated instrument known as the "Internet Bond."

  2. What Is Ethena USDe (USDe) Synthetic Dollar?

    The USDe is a synthetic dollar issued by Ethena, aiming to provide a stable and scalable digital currency that mirrors the value of the US dollar. It is designed to function as a decentralized, crypto-native dollar that does not rely on traditional financial infrastructure.

  3. What is Ethena USDe Used For?

    The utility of USDe by Ethena Labs goes beyond being a simple dollar-pegged stablecoin. It offers stability (1:1 peg to USD) for DeFi activities but also generates high returns (over 33.5% APY) through its unique ETH and derivatives mechanism. As an ERC-20 token, USDe integrates with various DeFi platforms for lending, borrowing, and trading. Additionally, it's the backbone of Ethena Finance, allowing users to convert their ETH into yield-bearing USDe tokens.

  4. What Makes USDe Different From Others?

    Unlike many traditional stablecoins, USDe offers the potential for high returns. It achieves this by leveraging a mechanism that involves staking ETH (Ethereum) and managing derivatives. This approach allows USDe holders to earn an Annual Percentage Yield (APY) that currently sits above 33.5% (as of June 2024). The stability of the USDe peg is maintained through delta hedging derivatives positions against protocol-held collateral and a mint and redeem arbitrage mechanism.

USDe to Local Currency

FiatPriceOperation
1 USDe to USD$ 0.999348
1 USDe to TRY$ 0.999348
1 USDe to RUB$ 0.999348
1 USDe to EUR$ 0.999348
1 USDe to AED$ 0.999348
1 USDe to AUD$ 0.999348
1 USDe to BRL$ 0.999348
1 USDe to VND$ 0.999348
1 USDe to IDR$ 0.999348
Last updated 2024/12/22 10:46 (UTC)

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