Ethena USDe

USDEStablecoin✓ verified

scored from the board run of 2026-10-08. ethena-usde. Run a live analysis

🏷️ Not a price-appreciation play; scored for adoption and holder distribution only.

39.5/100

D (avoid)

coverage 100%, high confidence, 50% tier-stable, rank #9/14

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Compare with other tokens

⚠ stablecoin: scored for adoption and distribution, not price upside

Price

$1.00

Market cap

$4.90B

FDV

$4.90B

24h volume

$10.86M

24h change

-0.0%

From ATH

-3%

Circulating

4.91B

Total supply

4.91B

Price

Domain scores

0 to 100. Each domain is the mean of its scored features' percentiles against this asset class's reference basket; the working is tabled below.

onchain

18.9

social

77.7

Cross-chain & resources

Present on 0 chain(s).

Links

🦎 CoinGecko

Data sources

What each source supplied for this token, with a link to its own page so every figure below can be checked at the source.

coingeckook

price, market cap, supply, volume, community up-votes, watchlists, repo links

defillamaoff

fees, revenue, holders revenue, TVL, audit record (protocol, or chain for an L1)

santimentok

daily active addresses (90-day trend, 30-day means) and dev-activity level (events/day over 90 days)

githuboff

most recent push across the project's accounts (dead-token gate)

ethplorerok

top-10 holder shares (Ethereum ERC-20s only)

sourcifyok

contract source verification

cryptorankoff

vesting schedule / unlock overhang (Pro plan)

Key

ok: returned data for this token; it is in the score

empty: reachable, but has nothing on this token (not tracked there); scored without it

error: the request failed this run (rate limit or outage); scored without it and retried next refresh

off: not queried: no identifier for this token, or the source needs a key or plan we do not have

stale: the source failed this run; the last stored values were carried forward (dated in the advisory) so the score does not move on an outage

How the score is built

Stablecoin. Each feature is computed from the raw figures shown, then ranked as a percentile (0 to 100) against the stablecoin reference basket; features average within a domain; domains are weighted, with the weights renormalized over the domains that have data (a domain the class is defined by is floored, not skipped, when it has none); any gate that trips caps the result. Points are percentile times weight; they add up to the raw score.

On-chainUsage and distribution: active-address growth and holder concentration.

weight 65%, 2/2 features, domain score 18.9

Top-10 holders
lower is better, ethplorer
pct 31 vs 14
32.5% weight, +10.0
Top-10 holder shares: (44.9% + 25.4% + 11.0% + 3.6% + 3.4% + 2.4% + 1.8% + 1.2% + 0.7% + 0.6%)
Σ (44.9% + 25.4% + 11.0% + 3.6% + 3.4% + 2.4% + 1.8% + 1.2% + 0.7% + 0.6%) = 94.8%
Active-address growth
higher is better, santiment
pct 7 vs 12
32.5% weight, +2.3
Daily active addresses, first 30-day mean: 765
Daily active addresses, last 30-day mean: 602.7
window: 90
(602.7 − 765) ÷ 765 = -21.2%

Feature	Raw figures	Calculation	Percentile	Weight	Points
Top-10 holders lower is better, ethplorer	Top-10 holder shares: (44.9% + 25.4% + 11.0% + 3.6% + 3.4% + 2.4% + 1.8% + 1.2% + 0.7% + 0.6%)	Σ (44.9% + 25.4% + 11.0% + 3.6% + 3.4% + 2.4% + 1.8% + 1.2% + 0.7% + 0.6%) = 94.8%	31 vs 14 peers	32.5%	+10.0
Active-address growth higher is better, santiment	Daily active addresses, first 30-day mean: 765 Daily active addresses, last 30-day mean: 602.7 window: 90	(602.7 − 765) ÷ 765 = -21.2%	7 vs 12 peers	32.5%	+2.3

SocialAttention: is social interest rising ahead of price?

weight 35%, 2/2 features, domain score 77.7

Sentiment
higher is better, coingecko
pct 79 vs 8
17.5% weight, +13.7
Community up-votes: 100.0%
100.0% ÷ 100 = 100.0%
Watchlists
higher is better, coingecko
pct 77 vs 14
17.5% weight, +13.5
CoinGecko watchlists: 26.23K
26.23K = 26.23K

Feature	Raw figures	Calculation	Percentile	Weight	Points
Sentiment higher is better, coingecko	Community up-votes: 100.0%	100.0% ÷ 100 = 100.0%	79 vs 8 peers	17.5%	+13.7
Watchlists higher is better, coingecko	CoinGecko watchlists: 26.23K	26.23K = 26.23K	77 vs 14 peers	17.5%	+13.5

Composite

Domain	Weight	Renormalized	Domain score	Points
On-chain	65%	65.0%	18.9	+12.3
Social	35%	35.0%	77.7	+27.2
Raw score = Σ points				39.5

Gate: hard disqualifiers

Each rule is checked against the figures shown; missing data never trips a rule. The strictest tripped rule sets the ceiling.

unverified_contractinactive
Contract verified (Sourcify): yes, trips when False
If tripped: zeroes the score
anonymous_teaminactive
Team anonymous: n/a, trips when True
If tripped: caps the score at 40
no_auditpass
Audit on record (DefiLlama): n/a, trips when False
If tripped: caps the score at 50
extreme_fdv_mcappass
FDV / MCAP: 1.00x, trips above 10x
If tripped: caps the score at 40
dead_tokenpass
Days since last GitHub push: n/a, trips at 180 days or more
Santiment dev events in window: 432, > 0 overrules a stale GitHub org
24h volume: $10.86M, trips below $1,000
If tripped: zeroes the score

No rule tripped, so the final score is the raw score: 39.5

Rule	Evidence	If tripped	Result
unverified_contract	Contract verified (Sourcify): yes, trips when False	zeroes the score	inactive
anonymous_team	Team anonymous: n/a, trips when True	caps the score at 40	inactive
no_audit	Audit on record (DefiLlama): n/a, trips when False	caps the score at 50	pass
extreme_fdv_mcap	FDV / MCAP: 1.00x, trips above 10x	caps the score at 40	pass
dead_token	Days since last GitHub push: n/a, trips at 180 days or more Santiment dev events in window: 432, > 0 overrules a stale GitHub org 24h volume: $10.86M, trips below $1,000	zeroes the score	pass
No rule tripped, so the final score is the raw score			39.5

Tier

A (high conviction) 80+B (qualified) 60+C (watchlist) 40+D (avoid) 0+

39.5 maps to D (avoid). 50% of plus or minus 20% weight perturbations keep this tier. Coverage 4/4 of this class's features (100%). high confidence.

Peer comparison

usd-coin

76.1

B (qualified)

tether

74.7

B (qualified)

ripple-usd

69.5

B (qualified)

paypal-usd

66.3

B (qualified)

dai

65.7

B (qualified)

usds

61.0

B (qualified)

true-usd

60.8

B (qualified)

usdd

42.8

C (watchlist)

⭐ ethena-usde

39.5

D (avoid)

first-digital-usd

38.0

D (avoid)

usd1-wlfi

35.6

D (avoid)

frax

28.1

D (avoid)

In one paragraph

Ethena USDe (USDE), Stablecoin: score 39.5/100, tier D (avoid), rank #9 of 14 same-class peers. Domains, 0 to 100, with each one's weight in this class's composite: on-chain 18.9/100 (weight 65%), social 77.7/100 (weight 35%). Data coverage 4/4 features (100%), confidence high, 50% tier-stable. Gate flags: none. Advisories: stablecoin: scored for adoption and distribution, not price upside. All figures are already on a 0 to 100 scale; do not rescale.

About this page

This is Ethena USDe's permanent DYOR page, scored from the board run of 2026-10-08 against 13 other Stablecoin tokens. Scores are 0 to 100; the tier maps A at 80 or above, B at 60, C at 40, D below. Every figure above shows its raw inputs, formula, percentile and weight; see the methodology for how the classes, gates and weights work. For today's numbers, run a live analysis. Research aid, not financial advice.

Other Stablecoin tokens on the board: usd-coin (76.1/100), tether (74.7/100), ripple-usd (69.5/100), paypal-usd (66.3/100), dai (65.7/100), usds (61/100), true-usd (60.8/100), usdd (42.8/100). All scored tokens