Ethena USDe price holds near $1 as X Layer expands access
Published on 10/29/2026 at 18:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSUSDe stays close to its dollar target
- Ethena USDe price was listed at 1.000 USD on October 29, 2026, at 19:29:45 Berlin time.
- Investing.com showed a market capitalization of 4.95 billion USD, 24-hour volume of 18.65 million USD and a rank of 23.
- USDe launched natively on X Layer on October 23, with Aave V3 as its first integration on the network.
- Ethena's October governance update reported a 101.43 percent backing ratio on October 12.
Ethena USDe price remained close to its dollar target on October 29, 2026, as the synthetic dollar continued to expand its network access. The Investing.com quote page showed USDe at 1.000 USD at 19:29:45 Berlin time, with a displayed daily change of 0.00 percent. The page listed a 52-week range of 0.964 to 1.006 USD.
The quote page also showed a market capitalization of 4.95 billion USD, 24-hour volume of 18.65 million USD and a market ranking of 23. These figures are market snapshots rather than a measure of the token's reserve quality or redemption capacity.
New route through X Layer
USDe's latest distribution development is its native deployment on X Layer, the network associated with OKX. TokenPost reported that the deployment took place on October 23 and that Aave V3 was the first integration on the network. Users can hold and trade USDe there, while staking and looping features in OKX Wallet were described as planned rather than already available.
The development broadens the places where USDe can be used as liquidity or collateral, but it does not by itself demonstrate additional demand. For investors monitoring the project, subsequent supply growth and activity on the new market are more meaningful indicators than the launch announcement alone.
Backing and risk context
Ethena's July-to-September governance update, published on its governance forum, reported a backing ratio of 101.43 percent on October 12. It also reported 4.83 billion USD in backing assets, including the reserve fund, against 4.76 billion USD in USDe supply. Those figures are dated October 12 and should not be confused with the October 29 market snapshot.
A separate TokenPost report described a proposal to add the equity-linked Spiko Amundi Overnight Swap Fund to USDe backing, with a proposed cap of 500 million USD through December 31, 2026, and 1 billion USD in 2027. The report said no allocation or community vote result had been recorded, so the proposal should not be treated as an implemented backing change.
For now, the Ethena USDe price snapshot points to a stable trading level, while the main investor questions concern backing composition, redemption resilience and whether new integrations translate into sustained usage. More coverage is available on the Ethena USDe topic page.
