G.MARKETS
BTC$62,976.00+0.43%
LIVE
BTC$62,976.00▲ 0.43%ETH$1,772.08▲ 0.45%USDT$0.9990▼ 0.02%BNB$582.36▲ 1.96%USDC$0.9998▼ 0.00%XRP$1.14▲ 0.03%SOL$80.28▼ 0.26%TRX$0.3288▲ 1.31%FIGR_HELOC$1.01▲ 0.00%HYPE$70.80▲ 3.46%DOGE$0.0766▲ 1.02%USDS$0.9998▲ 0.01%RAIN$0.0151▼ 1.67%LEO$9.36▲ 2.19%ZEC$455.44▼ 0.14%ADA$0.1836▼ 2.95%XLM$0.1997▲ 0.24%WBT$56.81▲ 0.37%XMR$319.46▼ 3.93%LINK$7.92▲ 0.59%CC$0.1428▲ 1.96%LAB$16.97▲ 4.65%BCH$239.80▲ 1.19%GRAM$1.74▼ 0.86%DAI$0.9997▼ 0.02%USD1$0.9986▼ 0.04%USDE$0.9983▼ 0.03%LTC$44.92▲ 1.59%HBAR$0.0744▼ 0.03%USYC$1.13▲ 0.00%BTC$62,976.00▲ 0.43%ETH$1,772.08▲ 0.45%USDT$0.9990▼ 0.02%BNB$582.36▲ 1.96%USDC$0.9998▼ 0.00%XRP$1.14▲ 0.03%SOL$80.28▼ 0.26%TRX$0.3288▲ 1.31%FIGR_HELOC$1.01▲ 0.00%HYPE$70.80▲ 3.46%DOGE$0.0766▲ 1.02%USDS$0.9998▲ 0.01%RAIN$0.0151▼ 1.67%LEO$9.36▲ 2.19%ZEC$455.44▼ 0.14%ADA$0.1836▼ 2.95%XLM$0.1997▲ 0.24%WBT$56.81▲ 0.37%XMR$319.46▼ 3.93%LINK$7.92▲ 0.59%CC$0.1428▲ 1.96%LAB$16.97▲ 4.65%BCH$239.80▲ 1.19%GRAM$1.74▼ 0.86%DAI$0.9997▼ 0.02%USD1$0.9986▼ 0.04%USDE$0.9983▼ 0.03%LTC$44.92▲ 1.59%HBAR$0.0744▼ 0.03%USYC$1.13▲ 0.00%
ACTIVEEthena USDeUSDE→TetherUSDT
USDE WOULD BE$41.50
MULTIPLIER▲ 41.6x
TARGET MCAP$184.14B
G.MARKETS/PAIR ANALYSIS·Ethena USDe logoUSDE→Tether logoUSDT· LIVE· as of 06:42 UTC
THE ORIGINAL G.MARKETS CALCULATION

If had 's mcap →

USDE WOULD BE
$0.00000000
currently $0.9983 · target mcap $184.14B
MULTIPLIER
▲0.00x

USDE needs a 41.6x move to match USDT's valuation

COIN PROFILES·USDE vs USDT
Ethena USDe logo
USDEUnverified
Ethena USDe
SOURCE

Ethena is a delta-hedged synthetic dollar with native crypto yield derived from staking and perpetual funding rate

PRICE$0.9983
24H CHANGE▼ 0.03%
MARKET CAP$4.43BFDV $4.43B · Fully circulating
RANK#27
SUPPLY4.4B USDE
DOMINANCE0.15%
7d▼ 0.09%
VS
Tether logo
USDTVerified by G.MARKETS
Tether
TARGET

Tether (USDT) is a cryptocurrency with a value meant to mirror the value of the U.S.

PRICE$0.9990
24H CHANGE▼ 0.02%
MARKET CAP$184.14BFDV $189.61B · 3% supply locked
RANK#3
SUPPLY184.3B USDT
DOMINANCE6.14%
7d▼ 0.05%
PERFORMANCE·NORMALIZED % CHANGE·7D / 30D / 90D / 1Y
SCALE·AREA = MARKET CAP
MARKET CAParea = proportional cap
41.6x bigger
USDE$4.43B
USDT$184.14B
THE CLIMBEthena USDe logoUSDE→Tether logoUSDTMULTIPLIER▲ 41.6xGAP$179.71B
$10.00B$100.00B
Ethena USDe logo
SOURCEUSDE$4.43B
Tether logo
TARGETUSDT$184.14B
USD1 logo
USD1$4.58B
Gram (prev. Toncoin) logo
GRAM$4.74B
LAB logo
LAB$5.30B
Chainlink logo
LINK$5.93B
WhiteBIT Coin logo
WBT$6.70B
Cardano logo
ADA$6.84B
LEO Token logo
LEO$8.62B
Rain logo
RAIN$9.97B
Dogecoin logo
DOGE$11.86B
Figure Heloc logo
FIGR_HELOC$19.69B
Solana logo
SOL$46.65B
USDC logo
USDC$72.84B
log scale · mcap in USDJul 6, 2026
Ethena USDe logo
USDEEthena USDe
$4.43BSOURCE
USD1 logo
USD1
$4.58B
Gram (prev. Toncoin) logo
GRAM
$4.74B
LAB logo
LAB
$5.30B
Chainlink logo
LINK
$5.93B
WhiteBIT Coin logo
WBT
$6.70B
Cardano logo
ADA
$6.84B
LEO Token logo
LEO
$8.62B
Rain logo
RAIN
$9.97B
Dogecoin logo
DOGE
$11.86B
Figure Heloc logo
FIGR_HELOC
$19.69B
Solana logo
SOL
$46.65B
USDC logo
USDC
$72.84B
Tether logo
USDTTether
$184.14BTARGET
mcap in USDJul 6, 2026
BAG SCENARIOS·IF USDE HIT USDT MCAP·TARGET $41.50
SCENARIOBAG SIZECOST TODAYVALUE AT TARGETGAIN
$10 starter100 USDE$99.83$4,149.57+$4,049.74
Coffee money1K USDE$998.29$41,495.66+$40,497.37
Small bag10K USDE$9,982.93$414,956.63+$404,973.70
Real bag100K USDE$99,829.30$4,149,566.31+$4,049,737.01
Whale bag1M USDE$998,293.00$41,495,663.15+$40,497,370.15
Generational10M USDE$9,982,930.00$414,956,631.45+$404,973,701.45

FOR CONTEXT

$184.14B compared to the world
UnitedHealthUNH
$450.00B
USDT mcap is 40.9% of UnitedHealth
NetflixNFLX
$380.00B
USDT mcap is 48.5% of Netflix
UberUBER
$160.00B
USDT mcap is 1.15× Uber
NikeNKE
$130.00B
USDT mcap is 1.42× Nike
StarbucksSBUX
$100.00B
USDT mcap is 1.84× Starbucks
SpotifySPOT
$90.00B
USDT mcap is 2.05× Spotify
RELATED COMPARISONS·OTHER WAYS TO ASK
Ethena USDe logoUSDE→Bitcoin logoBTCVerified by G.MARKETS
$284.57▲ 285x
Ethena USDe logoUSDE→Ethereum logoETHVerified by G.MARKETS
$48.19▲ 48.3x
Ethena USDe logoUSDE→BNB logoBNBVerified by G.MARKETS
$17.69▲ 17.7x
Ethena USDe logoUSDE→USDC logoUSDCVerified by G.MARKETS
$16.41▲ 16.4x
Ethena USDe logoUSDE→XRP logoXRPVerified by G.MARKETS
$15.94▲ 16.0x
Ethena USDe logoUSDE→Solana logoSOLVerified by G.MARKETS
$10.51▲ 10.5x

About this comparison

This page compares the market capitalizations of Ethena USDe (USDE) and Tether (USDT). With Ethena USDe currently at $0.9983 per coin and a market cap of $4.43B, and Tether at $0.9990 with a market cap of $184.14B, applying Tether's market cap to Ethena USDe's circulating supply produces a hypothetical USDE price of $41.50 — a 41.6x 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 $184.14B, each USDE would be worth approximately $41.50 based on the circulating supply of 4,437,669,742 USDE. That is 41.6x the current USDE price of $0.9983.

What is the current market cap of Ethena USDe?

Ethena USDe (USDE) currently has a market cap of $4.43B, ranking #27 by market capitalization. Each USDE trades at $0.9983.

What is the current market cap of Tether?

Tether (USDT) currently has a market cap of $184.14B, ranking #3 by market capitalization. Each USDT trades at $0.9990.

How does USDE compare to USDT?

Ethena USDe's market cap of $4.43B sits well above Tether's $184.14B. For USDE to reach USDT's current valuation, the price would need to move 41.6x 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.