Ethena USDe (USDE) Exchange

USDe is a synthetic dollar stablecoin issued by Ethena Labs

إرسال

usde

استلام

رسوم Swapzone: 0%

USDe Market Data

Price

$ 1.00

24h % price

0.02%

7d % price

-0.02%

Market Cap

$ 4,966,006,032.24

24h volume

$ 20,499,256.94

Coin supply

4,967,162,584.212

USDe Price Chart

The current value of 1 USDe is 0.9904896594251952 USD.When you exchange USDe on Swapzone

usdeUSD

0.9905

-0.9203%(-0.0092)

usdeby CoinGecko

Popular USDe Exchange Pairs

تبادل USDE مقابلPairsStatus

Bitcoin

usde / btc

Active

Ethereum

usde / eth

Active

Monero

usde / xmr

Active

ZCash

usde / zec

Active

Litecoin

usde / ltc

Active

XRP

usde / xrp

Active

Tether

usde / usdt

Active

Stellar

usde / xlm

Active

TRON

usde / trx

Active

USD Coin

usde / usdc

Active

Other Cryptocurrencies to Exchange

Popular Alternatives to Buy

Bitcoinbtc Cardanoada Ethereumeth GRAMton Litecoinltc Moneroxmr Pirate Chainarrr Solanasol Stellarxlm Tetherusdt TRONtrx USD Coinusdc USDCEusdceop XRPxrp ZCashzec

What Is Ethena USDe?

What Is USDe?

USDe is a synthetic dollar stablecoin issued by Ethena Labs

USDe Mechanism and Supply

USDe is not backed by fiat or by overcollateralised crypto alone. Its peg is maintained by a delta-neutral hedge: for every dollar of spot crypto deposited as collateral

What Determines USDe's Peg Stability

USDe's peg is maintained through two mechanisms. On the creation side

How to Exchange Ethena USDe on Swapzone

Open the USDe exchange page

Go to swapzone.io/exchange/ethena-usde. Select USDe as the sending asset to convert USDe to another currency

Enter the amount and choose the target currency

Type the USDe amount (or the target currency amount) you want to exchange. Swapzone fetches live quotes from all available partners simultaneously.

Compare offers and select a partner

Review each offer by rate

Enter the receiving wallet address

Provide the wallet address for the asset you are receiving. USDe is an ERC-20 token on Ethereum — if receiving USDe

Send USDe and wait for completion

Send USDe to the deposit address provided. The swap processes automatically. A USDe swap on Ethereum typically completes in 5 to 15 minutes under normal gas conditions. Status is trackable on the confirmation page.

How to Choose a USDe Exchange Partner

Swapzone shows all live USDe offers in one place. Three criteria matter most.

By best rates

By transaction speed

By KYC frequency

USDe is pegged to $1

Ethena USDe Analysis

USDe's yield-bearing design (sUSDe) makes its demand sensitive to the broader derivatives market cycle: high perpetual funding rates drive protocol revenue and attract stakers; low or negative funding rates reduce yield and may reduce sUSDe demand. Supply growth correlates with bullish market periods when longs dominate perpetuals. The reserve fund and USDtb diversification are the structural mechanisms Ethena has added to improve resilience through bear markets. ENA governance token holders represent a separate investment thesis from USDe itself — ENA is not a dollar peg but rather a claim on future protocol governance and potential fee distribution.No prediction is certain. Regulatory changesDisclaimer: This content is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and trading carries substantial risk of loss. Past performance is not indicative of future results.

Frequently Asked Questions About Ethena USDe

How does USDe maintain its $1 peg without fiat backing? dropdown

USDe uses a delta-neutral strategy: for every dollar of spot crypto deposited as collateral

What is sUSDe and how does the yield work? dropdown

sUSDe is the staked version of USDe. Depositing USDe into Ethena's staking contract returns sUSDe

What happens to USDe if funding rates go persistently negative? dropdown

Negative funding rates mean Ethena pays rather than receives from the hedge positions. For short periods

What is the Ethena reserve fund? dropdown

The reserve fund is a first-loss buffer Ethena maintains from protocol revenue. It was seeded at $10 million and grows as the protocol earns fees. During periods of negative funding rates

What is USDtb and how does it relate to USDe? dropdown

USDtb is a second stablecoin launched by Ethena in December 2024

What is ENA and how does it differ from USDe? dropdown

ENA is Ethena's governance token

Which CEXs hold Ethena's hedge positions? dropdown

Ethena's delta-neutral short positions are held across multiple centralised exchanges including Binance

Can anyone mint or redeem USDe? dropdown

Minting and redeeming USDe requires KYC and approval as a qualified participant in Ethena's minting program. Retail users access USDe through secondary market trading on exchanges — buying and selling USDe just like any other ERC-20 token. Direct minting/redemption with Ethena is reserved for institutional participants who maintain the peg through arbitrage.

How is USDe different from DAI? dropdown

DAI is an overcollateralised stablecoin — each DAI requires more than $1 in locked collateral to mint

How fast did USDe reach $1 billion in supply? dropdown

USDe reached $1 billion in circulating supply in 45 days after launching in February 2024

How do I exchange USDe on Swapzone? dropdown

Go to swapzone.io/exchange/ethena-usde