Ethena USDe (USDE) vs USD1 (USD1)
Learn how Ethena USDe and USD1 differ in their key features, market performance, and community adoption, so you can decide which cryptocurrency is best for your investment strategy.
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Ethena Labs is a decentralized finance (DeFi) protocol on Ethereum whose main product is USDe, a synthetic stablecoin backed by the US dollar. It aims to be a sort of "Internet bond" with a specific collateral mechanism secured by the cryptocurrencies stETH, WBETH, mETH, WETH, and USDT. Specifically, when a user deposits any of these cryptocurrencies, the protocol opens an equivalent "short" position to hedge against potential declines.
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Key Metrics Comparison
Ethena USDeUSDE
Market Cap$4.322B
24h Volume$93.63M
Liquidity Ratio2.17%
24h Change-0.01%
7d Change0.00%
Circulating Supply4,322,987,389.128
Max SupplyN/A
All-Time High$1
USD1USD1
Market Cap$4.239B
24h Volume$1.469B
Liquidity Ratio34.65%
24h Change+0.01%
7d Change0.00%
Circulating Supply4,240,296,038.396
Max SupplyN/A
All-Time High$1
Category Performance
Visual comparison across key categories. Ring fill represents relative strength or share between the two assets.
Market Share
Share of combined market cap
USDE
50.5%USD1
49.5%Volume Share
Share of combined 24h volume
USDE
6.0%USD1
94.0%24h Performance
Price change over last 24 hours
USDE
-0.01%USD1
0.01%7d Performance
Price change over last 7 days
USDE
0.00%USD1
0.00%Proximity to ATH
How close to all-time high (closer is better)
USDE
-3.3%USD1
-4.6%Liquidity Ratio
Volume to market cap ratio (higher = more liquid)
USDE
2.17%USD1
34.65%