Ethena USDe Historical Price and Yield Analysis: Should I Buy USDe Now?

Summary

This article provides a comprehensive review of the historical prices and market fluctuations of Ethena USDe since its inception. Combining data from different market phases, it evaluates the potential returns for investors purchasing 10 USDe tokens and answers the key question, “Should I buy USDe now?” to help both beginners and long-term investors grasp timing and growth opportunities.

Early Market Cycle: Historical Price Review (2024 to 2025)

Ethena’s synthetic USDe dollar represents the first censorship-resistant, scalable, and stable native cryptocurrency solution, achieved through Delta hedging of Ethereum collateral. According to market records, USDe launched in early 2024 with an initial trading price of approximately $1.00.

Below are the price changes during USDe’s initial listing period:

2024 Year

• Opening Price: $1.00
• Closing Price: $0.9987
• Highest Price: $1.00
• Lowest Price: $0.9972
• Annual Return: -0.13%

2025 Year

• Opening Price: $0.9994
• Closing Price: $0.9988
• Highest Price: $1.00
• Lowest Price: $0.9931
• Annual Return: -0.06%

An investor who purchased 10 USDe in 2024 has an unrealized potential gain of -$0.012 so far.

Recent Market Cycle: Should I buy USDe now? (2025 to present)

From the beginning of 2025 to now, USDe has demonstrated strong price stability as a stablecoin in practice. The highest price this year reached $1.00, and the lowest was $0.9931, with minimal price fluctuation, reflecting its core stablecoin properties.

Investors who bought 10 USDe from 2025 to now have an unrealized potential gain of -$0.006.

Summary: Stability and Investment Timing Analysis

By analyzing USDe’s historical prices and potential returns, we see that the asset maintains the core characteristics of a stablecoin, with very low price volatility. As a synthetic dollar product, USDe’s value primarily lies in providing a composable, on-chain stable store of value rather than traditional growth assets. Investors should base their decision to allocate to USDe on their understanding of stablecoin demand and Ethena ecosystem applications, rather than on expected returns.