Ethena USDe price stands at 1.00 USD as supply reaches 4.95 billion

Published on 10/27/2026 at 18:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

USDe's backing was 101.43 percent on October 12, 2026. The Ethena USDe price is steady at its 1.00 USD target on October 27, 2026.

Backing and distribution data

On October 27, 2026, circulating USDe stood at 4.95 billion tokens with a market capitalization of 4.95 billion USD.
Ethena reported a 101.43 percent backing ratio and a 62.57 million USD reserve fund on October 12, 2026.
The Ethena USDe price stands at 1.00 USD as of October 27, 2026, at its dollar target.
USDe launched on X Layer with an Aave V3 integration on October 23, 2026.

Ethena USDe, XCRYPTOUSDE6, Illustration mit AI erstellt.

Ethena USDe (USDe) stands at 1.00 USD as its circulating supply reaches 4.95 billion tokens on October 27, 2026. The Ethena USDe price remains at the dollar target, while the token ranks 23rd by market capitalization according to Investing.com.

Ethena reported 101.43 percent backing on October 12

Ethena's quarterly governance update reported a 101.43 percent backing ratio for USDe on October 12, 2026, together with a 62.57 million USD Reserve Fund balance. The report said the reserve fund was above the recommended 45.7 million USD size, according to Ethena Foundation.

USDe is a synthetic dollar: its design combines crypto collateral with hedging positions rather than relying solely on cash deposits. The October 12 report also recorded USDe supply of 4.76 billion tokens, giving a dated reference for the protocol's distribution scale.

USDe reached X Layer with Aave on October 23

Ethena deployed USDe on X Layer on October 23, 2026, adding the token to the layer 2 network associated with OKX. The first X Layer integration was an Aave V3 market, according to Pluang.

On-chain accounting also showed the scale of USDe's cross-chain distribution. At 18:41 UTC on October 12, 2026, an Ethereum LayerZero adapter held 2,292,201,958.40 USDe, equal to 48.30 percent of Ethereum's 4,746,167,897.22-token supply at that point, according to EthenaDash. A LayerZero adapter is a bridge component that helps represent tokens locked on one blockchain across connected chains.

USDe price holds at 1.00 USD with 4.95 billion USD value

The Ethena USDe price is 1.00 USD as of October 27, 2026, with a daily high of 1.00 USD and a daily low of 1.00 USD for the UTC day. Investing.com lists a 4.95 billion USD market capitalization at rank 23, 18.65 million USD in 24-hour volume and 4.95 billion USDe in circulation.