Back to all assets

Ethena USDe USDE

crypto

Price History

$0.0000210$0.354$0.708$1.06
2023-02 · DCA start$1.00

Time underwater

How far below its previous all-time high the price sat, each month. 0% means a new high.

-100.0%-66.7%-33.3%0.0%
2023-022025-01 · -5.0%

Worst drawdown: −100%, peaking Jun 2023 and bottoming Nov 2023 — 9 months below the prior high before recovering.

DCA Backtest

Invested
$2,000
Value today
$4,807,808
Return
+240290.4%
Months invested
20

Scenarios

Inflation — the same contributions merely keeping pace with CPI would be $2,143 today, so the real (inflation-adjusted) return is +224240.8%.

Lump sum instead — $2,000 all at once in Feb 2023: $2,019 (+0.9%) — DCA came out ahead.

Worst timing — same monthly amount started at the all-time high (Jul 2024): $790.73 on $700 invested (+13.0%).

Backtests use monthly closing prices. Stock dividends aren’t reinvested, so long-run equity returns are understated.

If this saved you a spreadsheet — buy me a coffee.

Every start month at once

Each cell is the return-to-date of £/$/€100-a-month DCA started that month. Click a cell to load it in the backtest above. The ringed cell is the all-time-high start — the worst timing scenario.

JFMAMJJASOND
2023
2024
Legend:−50%−20%0%+50%+200%+1000%worst timing (ATH)Selected 2023-02: +240290.4%

About Ethena USDe

Ethena is a delta-hedged synthetic dollar with native crypto yield derived from staking and perpetual funding rate (CoinGecko)

It's a cryptocurrency categorised under stablecoins, with a market cap of about $4.2B.

It rates High Risk at 3.0/5, meaning several rated factors score badly, so this carries materially more risk than a typical holding.

What pushes the score up: market / volatility (5.0/5) and custody / bridge (4.0/5).

Scoring well: systemic / correlation at 1.0/5.

Not yet researched: supply & concentration. These are excluded from the score rather than guessed, so the real risk may be higher than what’s shown.

Ratings summarise sourced facts against fixed rules — not investment advice, and no substitute for your own diligence.

Risk Profile

High Risk(3.0/5)85% rated

How these ratings work

Market / Volatility5.0/5 · weight 30%
  • Annualised volatility (3yr)5/51,247
  • Max drawdown from ATH5/5100.0
  • Beta vs BTC5/5-3.8
Liquidity2.3/5 · weight 10%
  • 24h volume / market cap4/50.51
  • Top exchange % of volume2/525.9
  • Significant listings1/525.0
Supply & Concentrationunrated · weight 15%
  • Top 10 wallets % of supplynot yet researched
  • Unlocks in next 6mo, % of supplynot yet researched
  • Annual supply growth %not yet researched
Smart Contract / Technical1.0/5 · weight 12%
  • Audit status1/5audited top tier recent
  • Admin key / upgradeabilitynot yet researched
  • Share of its mining algorithm (PoW)not yet researched
Custody / Bridge4.0/5 · weight 10%
  • Bridge reliance4/5synthetic hedge dependency
Governance / Team1.0/5 · weight 10%
  • Team1/5doxxed track record
  • Largest staking operator, % of stakenot yet researched
Regulatory2.0/5 · weight 10%
  • Regulatory profile2/5minor premine no action
Systemic / Correlation1.0/5 · weight 3%
  • Correlation to BTC1/5-0.14

Linked Assets

Same sector, or return-correlated — worth knowing what else might move if this one does.