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New data reveals Ethena's USDe is shifting its backing from high-yield derivatives to a more conservative model, with nearly half of its reserves now in DeFi lending.
Jupiter, in collaboration with Bitwise and Fluid, is launching an institutional-grade lending market on the Solana blockchain for the USDe synthetic stablecoin.
Ethena's synthetic dollar, USDe, experienced a supply contraction of over $1.6 billion in late April 2026, triggered by a broader de-risking in the DeFi market following a major exploit.
Ethena published a third-party verified proof-of-reserves report showing its USDe stablecoin is fully collateralized while its LayerZero bridge remains suspended.
Ethena USDe (USDE) current price is $0.999502, up 0.06% today.
Ethena USDe (USDE) daily trading volume is $103.1M
Ethena USDe (USDE) current market cap is $4.5B
Ethena USDe (USDE) current circulating supply is 4.5B
Ethena USDe (USDE) fully diluted market cap (FDV) is $4.5B
Ethena USDe (USDE) is founded by Guy Young