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

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Ethena USDeUSDE

Crypto-backedPegged USD

MCap

$4.00B

30d

-11.09%

Chains

21

TetherUSDT

Fiat-backedPegged USD

MCap

$184.14B

30d

-1.10%

Chains

98

Comparison Matrix

Live supply metrics normalized side by side.

Metric	USDE	USDT	Δ
Market Cap	$4.00B	$184.14B	-97.8%
24h Supply	-0.27%	+0.08%	-0.35pp
30d Supply	-11.09%	-1.10%	-9.99pp
Chain Count	21	98	-77

Supply Over Time

USDE vs USDT, USD circulating.

USDE top chains

Chain	Supply	Share
Ethereum	$2.52B	x 63.1%
Solana	$536.77M	x 13.4%
Base	$251.32M	x 6.3%
BSC	$168.52M	x 4.2%
Plasma	$168.37M	x 4.2%
TON	$120.32M	x 3.0%

USDT top chains

Chain	Supply	Share
Tron	$89.56B	x 48.6%
Ethereum	$76.34B	x 41.5%
BSC	$9.18B	x 5.0%
Solana	$2.91B	x 1.6%
Arbitrum	$921.72M	x 0.5%
Polygon	$915.54M	x 0.5%