X Layer launch on October 23: What it means for Ethena USDe price

Published on 10/26/2026 at 07:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

USDe reached 4.76 billion outstanding on October 12. Ethena USDe price is 1.00 USD on October 26, 2026.

Access and reserve checks

Ethena USDe went live on X Layer through an Aave V3 integration on October 23, 2026.
Ethena's governance update reported a 101.43 percent backing ratio on October 12, 2026.
The Ethena USDe price stands at 1.00 USD as of October 26, 2026, at the dollar target.
Aave's assessment recorded 62.78 USDe on X Layer on October 12, 2026.

Ethena USDe, XCRYPTOUSDE6, Illustration mit AI erstellt.

Ethena USDe (USDe) launched on X Layer on October 23, 2026, with Aave V3 as its first integration. The launch gives OKX Wallet users direct on-chain access to USDe, according to Ethena.

Aave V3 marks the October 23, 2026 launch

Ethena said on October 23, 2026, that USDe was live on X Layer and OKX Wallet. The first X Layer integration is an Aave V3 instance, allowing users to access USDe directly on-chain. Ethena also said one-click USDe looping in OKX Wallet is coming soon, without giving a launch date, according to Ethena.

X Layer is an additional network on which users can hold and swap the stablecoin. The October 23, 2026 announcement describes an access expansion, while it does not quantify deposits, transaction volume or realized demand.

October 12, 2026 review flags liquidity conditions

An assessment published on October 12, 2026, supported onboarding USDe to the Aave V3 X Layer instance subject to sufficient decentralized-exchange liquidity for liquidators. The review said the Ethena team was expected to provide 5.00 million USD in local liquidity before launch, according to Aave.

The same Aave review recorded 62.78 USDe on X Layer on October 12, 2026. It said USDe on the network is bridged through LayerZero rather than minted natively there. Ethena's governance update reported 4.83 billion USD in backing against 4.76 billion USDe outstanding on October 12, 2026, with a 101.43 percent backing ratio, according to Ethena governance.

Ethena USDe price remains at the dollar target

The Ethena USDe price is 1.00 USD as of October 26, 2026, according to Investing.com. The daily high is 1.00 USD and the daily low is 1.00 USD. Investing.com lists market capitalization at 4.95 billion USD, rank 23, and 24-hour volume at 18.65 million USD. Circulating supply is 4.95 billion USDe.