101.43 percent reserve report: What it means for the Ethena USDe price

Published on 10/23/2026 at 13:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

USDe supply reached 4.94 billion USD in Q3. The Ethena USDe price stands at 1.000 USD on October 23, 2026, with rank 23.

Reserve coverage and liquidity

The Q3 report put USDe supply at 4.94 billion USD on October 19, 2026.
Reserve coverage reached 101.43 percent on October 12, 2026.
The Ethena USDe price stands at 1.000 USD as of October 23, 2026.
Aave's assessment set a 5 million USD liquidity condition on October 12, 2026.

Ethena USDe, XCRYPTOUSDE6, Illustration mit AI erstellt.

Ethena USDe (USDe) reported a 101.43 percent reserve ratio on October 12, 2026, in a third-quarter update summarized by TronWeekly. The Ethena USDe price stands at 1.000 USD as of October 23, 2026, according to Investing.com.

Q3 report sets 4.94 billion USD supply

The report put USDe supply at 4.94 billion USD at the end of the third quarter, according to TronWeekly. It also cited a reserve fund of 62.57 million USD on October 12, 2026, and a 5.0 percent seven-day average yield for sUSDe at the end of the quarter.

The same report described a passed fee-switch proposal with a first threshold at a 7.5 billion USD 14-day average USDe supply. It said as much as 95 percent of specified revenue received by the Ethena Foundation could be allocated to ENA buybacks once the applicable supply thresholds are reached, according to TronWeekly.

Aave review sets 5 million USD liquidity condition

An Aave governance assessment dated October 12, 2026, said USDe had 4.76 billion USD of backing against 4.76 billion USDe outstanding. The review allocated 36.9 percent to DeFi lending, 24.9 percent to liquid stablecoins, 17.6 percent to crypto basis positions, 14.3 percent to institutional lending and 6.0 percent to real-world assets, according to Aave governance.

The assessment said the Ethena team was expected to supply 5 million USD in decentralized-exchange liquidity before an Aave X Layer launch. It also recorded 62.78 USDe on X Layer as of October 12, 2026, according to Aave governance. Decentralized-exchange liquidity refers to tokens available for trading in automated market pools.

USDe market data stays near 1.000 USD

Ethena's October 1, 2026, update said USDe supply grew by more than 700 million USD in September and that USDe rewards went live in an Aave V4 ecosystem market, according to Ethena.

According to Investing.com, USDe trades at 1.000 USD as of October 23, 2026. Its daily high is 1.000 USD and its daily low is 1.000 USD for the UTC day. Market capitalization is 4.95 billion USD, ranking it 23rd, while 24-hour volume is 18.65 million USD. Circulating supply is 4.95 billion USDe. As a dollar-pegged synthetic stablecoin, USDe's quoted price is presented without a percentage change against the UTC daily close of October 22, 2026.