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About this comparison
This page compares the market capitalizations of Ethena USDe (USDE) and Tether (USDT). With Ethena USDe currently at $0.9990 per coin and a market cap of $4.44B, and Tether at $0.9990 with a market cap of $189.66B, applying Tether's market cap to Ethena USDe's circulating supply produces a hypothetical USDE price of $42.66 — a 42.7x move from current.
Ethena USDe: Ethena is a delta-hedged synthetic dollar with native crypto yield derived from staking and perpetual funding rate
Tether: Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S.
All figures are live from the underlying market data feed. Past performance and hypothetical valuations are not indicative of future results.
Frequently asked
If Ethena USDe had Tether's market cap, what would the price be?
If Ethena USDe (USDE) had Tether's (USDT) current market cap of $189.66B, each USDE would be worth approximately $42.66 based on the circulating supply of 4,446,106,209 USDE. That is 42.7x the current USDE price of $0.9990.
What is the current market cap of Ethena USDe?
Ethena USDe (USDE) currently has a market cap of $4.44B, ranking #24 by market capitalization. Each USDE trades at $0.9990.
What is the current market cap of Tether?
Tether (USDT) currently has a market cap of $189.66B, ranking #3 by market capitalization. Each USDT trades at $0.9990.
How does USDE compare to USDT?
Ethena USDe's market cap of $4.44B sits well above Tether's $189.66B. For USDE to reach USDT's current valuation, the price would need to move 42.7x from its current level.
Is this comparison financial advice?
No. G.MARKETS is an informational tool. The hypothetical price shown is a mathematical calculation assuming Ethena USDe's circulating supply stays constant — it is not a prediction, recommendation, or any form of financial, investment, legal, or tax advice. Always do your own research before making any decision related to crypto assets.