Ethena Labs’ USDe Reaches $12 Billion Supply Milestone

Ethena Labs has announced that the total supply of its stablecoin USDe reached a record high of 12 billion USD as of August 24, 2025.

This significant supply increase highlights intensified market adoption and liquidity, potentially impacting DeFi protocols and stablecoin valuations across various blockchains.

USDe Supply Surges to $12 Billion in Record Time

Ethena Labs has disclosed on Twitter that the USDe stablecoin supply has reached $12 billion, marking an all-time high. This growth came swiftly, occurring in under two months after crossing the $10 billion threshold, which took 500 days to achieve. Ethena Labs, led by founder Guy Young, emphasizes the strategic advancements made to enhance USDe’s reach and adoption.

USDe’s expansion plays a pivotal role in the decentralized finance ecosystem, impacting liquidity across protocols utilizing USDe. As USDe’s supply increases, its integration into DeFi pools has likely fostered additional liquidity and yield opportunities, impacting associated governance tokens and DeFi projects.

The total supply of USDe has risen to 12 billion USD. — Ethena Labs Announcement

Rapid Growth of USDe Spurs DeFi Liquidity

Did you know? Ethena Labs achieved a $2 billion increase in USDe supply in under two months, whereas reaching the previous $10 billion mark took over 500 days, highlighting rapid growth in DeFi involvement.

According to CoinMarketCap, Ethena USDe has a market cap of $12.07 billion and a trading volume of $149.48 million, showing a 47.65% decrease over the past 24 hours. With a stable value at $1.00, the currency saw a 1.67% increase today, although it experienced minor fluctuations over broader periods.

The Coincu research team anticipates that the rapid growth of USDe could lead to increased liquidity across multiple DeFi platforms. This growth mirrors trends seen with other stablecoins, such as USDT and USDC, during bullish cycles, potentially driving broader stablecoin adoption in both retail and institutional environments.