USD Ethena
ATH / ATL
24h Price
24h summary
Over the last 24 hours, USD Ethena moved from $1 to $1. The session high was $1, the low was $1, and the intraday range was $0.0003 / 0%.
- 24h open
- $1
- 24h close
- $1
- 24h high
- $1
- 24h low
- $1
- Volatility / range
- $0.0003 / 0%
- Updated
Monthly Returns heatmap
Heatmap summary
USD Ethena posted 6 positive months out of 11. The longest positive streak lasted 2 months, while the longest negative streak lasted 2 months.
- Strongest month
- Jul 2026 +0.1%
- Weakest month
- Oct 2025 -0.1%
- Longest positive streak
- 2 Dec 2025 — Jan 2026
- Longest negative streak
- 2 Oct 2025 — Nov 2025
- Luckiest calendar month
- Jul • avg 0.1% • 1 mo.
- Unluckiest calendar month
- Oct • avg -0.1% • 1 mo.
Networks
Supported exchanges
About the coin
USD Ethena (USDE) is a digital asset operating within the cryptocurrency ecosystem. It is designed to function as a form of digital currency.
The project behind USDE aims to provide a novel approach to stable value within the decentralized finance (DeFi) landscape. Unlike traditional stablecoins that are typically backed by fiat currency reserves or crypto collateral, USDE utilizes a different mechanism for maintaining its value.
The core innovation of Ethena lies in its synthetic dollar protocol. This protocol generates USDE through a combination of hedging strategies and collateral, aiming to offer stability without direct reliance on traditional collateralization models.
One of the key components of the Ethena protocol is the use of derivatives. By hedging the price volatility of its underlying collateral, Ethena seeks to maintain the peg of USDE to a target value.
The collateral backing USDE is derived from staked Ether (stETH). When stETH is deposited into the Ethena protocol, it is used to mint USDE, creating a synthetic dollar that is intended to hold its value.
The protocol also involves a mechanism for earning yield. Users who hold USDE can potentially earn rewards generated by the protocol, which are derived from the yields of the staked Ether collateral and the hedging strategy.
Ethena's approach is designed to offer an alternative to existing stablecoin solutions, particularly for users seeking a stable digital asset that can be utilized within DeFi applications.
The USDE token is currently active and available on multiple blockchain networks, indicating its integration into different parts of the crypto space.
One of the prominent chains where USDE is deployed is the BNB Smart Chain. On this network, USDE functions as a BEP-20 token, with a specific contract address facilitating its transactions and interactions within the BNB ecosystem.
Additionally, USDE is also available on the Ethereum mainnet. Here, it adheres to the ERC-20 token standard, allowing it to be seamlessly integrated with the vast array of DeFi protocols and applications built on Ethereum.
The presence of USDE on both BNB Smart Chain and Ethereum highlights its multi-chain strategy, aiming for broader accessibility and interoperability across different blockchain environments.
The token standard for USDE on both chains is ERC-20 and BEP-20, respectively, with a standard decimal count of 18, common for many ERC-20 and BEP-20 tokens.
The contract addresses for USDE are distinct for each chain, ensuring proper functioning and tracking of the token on its respective network.
Ethena's synthetic dollar protocol represents a significant development in the stablecoin market, offering a unique alternative that focuses on yield generation and hedging strategies rather than direct collateral backing.
As the DeFi space continues to evolve, innovative solutions like Ethena's USDE are contributing to the expansion of digital asset utility and accessibility.
Trust & methodology
Last updated:
Data source: Price and volume snapshots are sourced from Binance using the USDEUSDT market feed.
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