USDe supply reached 4.74 billion: What it means for the Ethena USDe price

Published on 10/27/2026 at 13:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

A reserve review put backing at 101.43 percent on October 12, 2026. The Ethena USDe price is 1.00 USD on October 27, 2026.

Network data and integrations

Ethena USDe recorded 4.746 billion tokens on Ethereum at 18:41 UTC on October 12, 2026.
Aave's October 12, 2026 review measured backing at 4.76 billion USD for 4.76 billion USDe outstanding.
The Ethena USDe price stands at 1.00 USD as of October 27, 2026, against the UTC daily close of October 26, 2026.
USDe became native to OKX's X Layer on October 23, 2026, with Aave V3 as the first integration.

Ethena USDe, XCRYPTOUSDE6, Illustration mit AI erstellt.

Ethena USDe (USDe) had 4.746 billion tokens on Ethereum at 18:41 UTC on October 12, 2026, according to EthenaDash. The Ethena USDe price stands at 1.00 USD as of October 27, 2026, according to Investing.com.

Ethereum held 4.746 billion USDe

The EthenaDash review counted 4,746,167,897.22 USDe on Ethereum, including tokens locked in the LayerZero adapter that connects Ethereum with other chains. The adapter held 2,292,201,958.40 USDe, equal to 48.30 percent of the Ethereum supply. USDe on 35 other chains totaled 2,292,201,862.94, a difference of 95.45 USDe from the adapter balance, according to EthenaDash. LayerZero is a messaging protocol that transfers instructions between blockchains.

X Layer added a new USDe venue

USDe became native to OKX's X Layer on October 23, 2026, with an Aave V3 market as the first integration, according to CoinCentral. X Layer is a layer 2 network, meaning a separate transaction system built to operate alongside a base blockchain. The report also said USDe could later receive a looping feature in OKX Wallet, but it did not provide a launch date for that feature.

Aave's review dated October 12, 2026, assessed 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. A separate October 12 assessment reported that 51.2 percent of backing was allocated to DeFi and institutional lending, according to CryptoSlate.

USDe market data on October 27, 2026

According to Investing.com, Ethena USDe trades at 1.00 USD as of October 27, 2026. The daily high is 1.00 USD and the daily low is 1.00 USD for the UTC day. Market capitalization is 4.95 billion USD, ranking USDe No. 23, while 24-hour volume is 18.65 million USD. Circulating supply is 4,950 million USDe.