Ethena USDe price stands at 1.000 USD as supply reaches 4.95 billion

Published on 10/25/2026 at 13:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Backing totaled 101.43 percent on October 12. The reserve fund stood at 62.57 million USD, covering a 45.7 million USD recommendation.

Backing and integrations

On October 25, 2026, circulating supply is 4.95 billion USDe.
Ethena's backing ratio stood at 101.43 percent on October 12, 2026.
The Ethena USDe price stands at 1.000 USD as of October 25, 2026, at the dollar target.
X Layer held 62.78 USDe on October 12, 2026.

Ethena USDe, XCRYPTOUSDE6, Illustration mit AI erstellt.

Ethena USDe (USDe) trades at 1.000 USD on October 25, 2026, while circulating supply stands at 4.95 billion USDe. The latest protocol figures from Ethena Foundation put backing at 101.43 percent as of October 12, 2026.

Reserve coverage reached 101.43 percent

Ethena's governance update said USDe supply closed the third quarter at 4.94 billion USD on September 30, 2026, up from 4.51 billion USD on July 1, 2026. The same update reported 4.83 billion USD in backing assets, including the Reserve Fund, against 4.76 billion USDe in supply on October 12, 2026. The Reserve Fund balance was 62.57 million USD, compared with a recommended size of 45.7 million USD, according to Ethena Foundation.

X Layer recorded 62.78 USDe

USDe launched natively on X Layer on October 23, 2026, with Aave v3 as its first integration on the network, according to TradingView. X Layer is a layer 2 network, meaning it processes transactions through an additional system connected to an underlying blockchain. Aave's October 12, 2026, review recorded 62.78 USDe on X Layer and described total backing of 4.76 billion USD against 4.76 billion USDe outstanding, according to Aave Governance.

A separate supply reconciliation by EthenaDash found 2,292,201,958.40 USDe in Ethena's LayerZero adapter on Ethereum at 18:41 UTC on October 12, 2026. LayerZero is a messaging protocol that moves assets between blockchains. The report said 153 USDe transfers were listed across routes from October 11 to October 12, 2026.

USDe price remains at 1.000 USD

The Ethena USDe price is 1.000 USD as of October 25, 2026, according to Investing.com. It is at the dollar target; a percentage change versus the UTC daily close of October 24, 2026, is therefore not used under the stablecoin reference. The daily high is 1.000 USD and the daily low is 1.000 USD for the UTC day. Market capitalization is 4.95 billion USD, ranked 23rd, while 24-hour volume is 18.65 million USD, according to Investing.com.