USDE vs USDC: Market Cap, Peg & Supply | Sharpe Terminal

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Ethena USDeUSDE

Crypto-backedPegged USD

MCap

$4.02B

30d

-10.59%

Chains

21

USD CoinUSDC

Fiat-backedPegged USD

MCap

$73.24B

30d

-2.42%

Chains

119

Comparison Matrix

Live supply metrics normalized side by side.

Metric	USDE	USDC	Δ
Market Cap	$4.02B	$73.24B	-94.5%
24h Supply	+0.11%	+0.11%	+0.00pp
30d Supply	-10.59%	-2.42%	-8.17pp
Chain Count	21	119	-98

Supply Over Time

USDE vs USDC, USD circulating.

USDE top chains

Chain	Supply	Share
Ethereum	$2.55B	x 63.6%
Solana	$536.80M	x 13.4%
Base	$249.13M	x 6.2%
Plasma	$173.82M	x 4.3%
BSC	$168.47M	x 4.2%
TON	$120.32M	x 3.0%

USDC top chains

Chain	Supply	Share
Ethereum	$46.77B	x 63.9%
Solana	$7.02B	x 9.6%
Hyperliquid L1	$6.12B	x 8.4%
Base	$4.28B	x 5.8%
Arbitrum	$2.23B	x 3.0%
Polygon	$1.81B	x 2.5%