Ethena USDe USDE
Rank #23 stablecoindefi
Supply release: when does the rest arrive?
No maximum supplyThere is no release date — USDE has no maximum supply.
New USDE is issued indefinitely under the network's own rules, so there is no point at which issuance finishes and no final total to count down to. Long-run scarcity depends on the issuance rate — and on any burning that offsets it — rather than on a hard cap.
Supply at a glance
About Ethena USDe
Ethena USDe is a "synthetic dollar" that holds its US$1 target using hedged crypto positions rather than cash reserves — a structurally riskier design than reserve-backed stablecoins, offset by yield. Grew rapidly to become one of the largest dollar tokens.
Issued by Ethena Labs, founded by Guy Young (2024).
Ethena USDe in context
Ethena USDe trades 18% below its all-time high of A$1.69, set in April 2025. Over the past 90 days it has gained 0.0% in AUD terms, trailing Bitcoin's +8.5% by 8.5 percentage points — one of the moves behind today's altcoin season index reading. Daily turnover runs at about 0.7% of its market value — comparatively thin trading, which can amplify moves in both directions.
Computed from our market records at build time — figures refresh with the daily rebuild.
12-month range (AUD)
today sits 7% of the way up the rangeThe supply maths: what would a price target mean?
full calculator →Market cap = price × circulating supply. With 4.37 billion USDE circulating, every dollar of USDE price is A$4.37B of market cap — so check what a target actually implies:
Buying Ethena USDe in Australia
Ethena USDe is widely available on major exchanges, but we haven't yet verified which of our listed Australian platforms carry a direct USDE/AUD pair — we only publish availability we've checked. Compare exchanges and confirm the pair on the platform before depositing.
FAQ
What is the Ethena USDe (USDE) price in AUD right now?
The USDE price in AUD is about A$1.39 as of our last data refresh — the price at the top of this page updates continuously from CoinGecko market data (every 10 minutes in production), quoted in Australian dollars first so there's no mental USD conversion. The converter above turns any USDE amount into AUD at the live rate.
How do I buy Ethena USDe in Australia?
Ethena USDe is available on major exchanges, though we haven't yet verified which Australian platforms carry a direct USDE/AUD pair. The usual path: pick an AUSTRAC-registered exchange, deposit AUD via PayID or bank transfer, and check the USDE pair on-platform before committing.
Is Ethena USDe taxed in Australia?
Yes — the ATO treats Ethena USDe as a CGT asset. Selling, swapping or spending it is a taxable event; holding over 12 months may qualify individuals for the 50% CGT discount. See our crypto tax guide.
When will the rest of the USDE supply be released?
There is no release date — USDE has no maximum supply. New USDE is issued indefinitely under the network's own rules, so there is no point at which issuance finishes and no final total to count down to. Long-run scarcity depends on the issuance rate — and on any burning that offsets it — rather than on a hard cap.
Who created Ethena USDe?
Issued by Ethena Labs, founded by Guy Young (2024).
What is Ethena USDe's all-time high in AUD?
Ethena USDe peaked at A$1.69 in April 2025. Today's price sits 18% below that peak — the stat cards above track it daily.
Why does the USDE price here differ from prices I see in USD?
We quote in Australian dollars, so the number moves with both the coin's USD price and the AUD/USD exchange rate. Most global sites quote USD — multiply by the current exchange rate (or just use our converter above) and the numbers reconcile.
Market data powered by CoinGecko · availability verified against exchange listings
General information only, not financial advice. Crypto is volatile — never invest more than you can afford to lose.