Ethena reports 101.43 percent backing: What it means for the Ethena USDe price

Published on 10/22/2026 at 18:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

USDe supply closed September at 4.94 billion. The Ethena USDe price stands at 1.000 USD on October 22, 2026.

Stablecoin backing and supply

An October 13, 2026 governance update put Ethena USDe supply at 4.94 billion.
The reserve fund was reported at 62.57 million USD on October 12, 2026.
The Ethena USDe price stands at 1.000 USD as of October 22, 2026, at the USD target.
Aave's review recorded 62.78 USDe on X Layer as of October 12, 2026.

Ethena USDe, XCRYPTOUSDE6, Illustration mit AI erstellt.

Ethena USDe (USDe) had 101.43 percent backing as of October 12, 2026, according to an Ethena Foundation governance update. The Ethena USDe price stands at 1.000 USD as of October 22, 2026, according to Investing.com.

Ethena reports 4.94 billion USDe supply

The October 13, 2026 update said USDe supply closed September 2026 at 4.94 billion, compared with 4.51 billion on July 1, 2026. The same report put backing assets at 4.95 billion USD on September 30, 2026, and said the protocol backing ratio reached 101.43 percent against 4.76 billion USDe in supply on October 12, 2026, according to Ethena Foundation. The reserve fund balance was 62.57 million USD, while the report's recommended reserve size was 45.7 million USD on October 12, 2026.

The report also described a 235 million USD single-day redemption on July 10, 2026, during a period when supply fell to 3.93 billion USDe by July 13, 2026. Supply later recovered to 4.94 billion USDe at the end of September 2026, according to Ethena Foundation.

Aave review records 62.78 USDe on X Layer

An Aave governance assessment dated October 12, 2026, recorded 62.78 USDe on X Layer, a network where assets are transferred through a cross-chain token standard. The assessment said USDe backing totaled 4.76 billion USD against 4.76 billion USDe outstanding on that date, with 36.9 percent allocated to decentralized finance 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 governance.

USDe trades at 1.000 USD on October 22, 2026

The Ethena USDe price is 1.000 USD as of October 22, 2026, according to Investing.com. Investing.com shows a daily high of 1.000 USD and a daily low of 1.000 USD for the UTC day, market capitalization of 4.95 billion USD at rank 23, and 24-hour volume of 18.65 million USD. Circulating supply is listed at 4.95 billion USDe.