Ethena Staked USDe (SUSDE) Maintains Stability Amid Market Consolidation
Ethena Staked USDe (SUSDE) is trading at $1.22884424 USD, up 0.04 over the last 24 hours, as the yield-bearing stablecoin continues to consolidate near its recent trading range. The token is currently trading on 118 active markets with $8,074,916.40 traded over the last 24 hours.
Market Performance and Valuation
The live SUSDE price today is $1.24 USD with a 24-hour trading volume of $8,141,277.40 USD. SUSDE reached an all-time high of $1.29 and an all-time low of $1.01, currently trading 3.90% below that peak and 22.50% above its lowest price.
The token's market capitalization reflects steady demand for yield-bearing stablecoin solutions. Ethena Staked USDe has a current supply of 1,660,567,711.75361297 tokens in circulation.
Yield Performance and Protocol Updates
As of June 2026, sUSDe 7-day trailing APY sits at 7.1%, down from 9.4% in April, as perpetual funding compressed through Q2. USDe supply is approximately $4.4 billion and sUSDe supply is approximately $3.1 billion (~70% stake ratio), per Ethena's transparency dashboard.
Recent Protocol Developments
USDe is a leading stablecoin on the newly launched Robinhood Chain, capturing early liquidity in a high-activity L2 as of July 21, 2026. Ethena executed a series of infrastructure expansions in mid-July, with USDe and its yield-bearing version sUSDe launching on Monad, integrated with Aave for borrowing. Separately, Kraken enabled USDe deposits and withdrawals on the Avalanche network.
Protocol Structure
USDe is collateralized by a basket: liquid staking tokens (LSTs) like stETH, spot BTC, USDT, USDC, and short positions in perpetual futures contracts. The insurance fund stands at $73 million, ~1.7% of supply.