$0.9990
+0.20%past year

Code is moving, no fees read, sources agree.

Code

35 commits in 90 days from 6 people

This token wraps another asset, so code activity says little here.

No weekly commit data
Last push
Nov 2, 2026
ethena-labs · CoinMarketCap
Usage

We haven’t read usage for this token

DefiLlama doesn’t track it, and that’s common outside DeFi.

Nov 4Nov 3
Numbers

CoinGecko and CoinMarketCap agree

CGCMC
Price$0.9994$0.9995Agree
Supply4.52B4.59BAgree
Mcap$4.52B$4.59BAgree
Volume$63.3M$48.1M×1.32

We show both and don’t say which is right. CoinGecko, CoinMarketCap

Paper → real

About $4.52B of $4.59B is real

Selling everything at 2% a day would take 102 days.

Paper (all tokens)$4.59B
Market cap$4.52B
Real$4.52B

Real is the market cap scaled down when its order-book depth is below what is typical for a token of its size. An estimate, not a price.

Where it lives

2 tokens under its ticker that no list knows

Home contract: Ethereum 0x4c9e…68b329 official deployments
HomeEthereumUSDe 0x4c9E…68B3$42.9M
OfficialSolanaUSDe DEkqHy…EonT$7.29M
OfficialBaseUSDe 0x5d3a…ef34$1M
OfficialRobinhoodUSDe 0x5d3a…ef34$970K
OfficialAvalancheUSDe 0x5d3a…ef34$317K
OfficialTONEthena USDe EQAIb6…zP5f$206K

Copies are what DEX search finds under the same ticker. Liquidity counts only pools against real assets; a pool against a made-up token can claim any figure.

Leverage

$849K in open futures, 0% of the market cap

Closing them all by force would take 0 days of 2% sell depth.

Funding, 8h
+0.01% · longs pay shorts
Futures volume
$93.4K · 0× the spot volume · open interest turned over 0.1×
Venues
Bybit

Perpetual futures on Binance, Bybit, OKX and Hyperliquid, read hourly; CME and other venues are not counted. Liquidations from Bybit (every one), Binance (the largest per second) and OKX (its latest orders each hour): a lower bound.

On-chain

The contract owner keeps some powers

Deployed on 30 chains, so one contract’s supply isn’t the token’s supply.

Supply
chain 4.59B · CG 4.59B · CMC 4.59B
Owner powers
can mint
Top 10 wallets
15% of supply · 48.5K holders

Read from the chain and GoPlus. Powers are facts about the contract, not a verdict on the team.

Run this project? Make it official.

Prove you run it and point us to your repo, supply page and unlocks. It appears here labelled as yours, next to what we found.

More dossiers