Ethena USDe vs 
First Digital USD
Ethena USDe (USDE) has a market cap of $14.07B, 12.3× that of First Digital USD (FDUSD) at $1.15B, as of 2026-11-08 23:23 UTC.
At Ethena USDe's market cap, one FDUSD would be worth $12.2452 — 12.3× its current price of $0.9979. This is arithmetic, not a forecast.
Over 24 hours USDE is -0.03% and FDUSD is -0.01%.
Over 30 days, FDUSD gained 0.01% while USDE lost 0.06%.
Over 90 days, FDUSD lost 0.01% while USDE lost 0.07%.
Annualised 90-day volatility: USDE 0%, FDUSD 1% — FDUSD has been the more volatile asset.
Their daily returns are barely correlated over 90 days (-0.08).
Updated · Market data, not investment advice.
| Metric | Ethena USDe (USDE) | First Digital USD (FDUSD) |
|---|---|---|
| Price | $0.9999 | $0.9979 |
| Market cap | $14.07B | $1.15B |
| Rank | #12 | #48 |
| 24h volume | $8.61M | $58.20M |
| 24h change | -0.03% | -0.01% |
| 7d change | +0.01% | -0.03% |
| 30d change | -0.06% | +0.01% |
| 90d change | -0.07% | -0.01% |
| Volatility (90d, annualised) | 0% | 1% |
| Circulating supply | 14.08B | 1.15B |
| Max supply | No cap | No cap |
| Fully diluted value | $14.07B | $1.15B |
| Correlation of daily returns (90d) | -0.08 | |
90-day performance, rebased to 100
Binance daily closes. Past performance doesn't predict future returns.
Frequently asked questions
What would FDUSD be worth with USDE's market cap?+
$12.2452 per FDUSD, based on First Digital USD's current circulating supply. This is arithmetic, not a forecast.
Is Ethena USDe bigger than First Digital USD?+
Yes. Ethena USDe's market cap is $14.07B versus $1.15B for First Digital USD (2026-11-08 23:23 UTC).
Which performed better over the last 30 days, USDE or FDUSD?+
First Digital USD: +0.01% vs Ethena USDe: -0.06% (Binance daily closes, 2026-11-08 23:23 UTC).
Do USDE and FDUSD move together?+
Their 90-day correlation of daily returns is -0.08 (1 = move in lockstep, 0 = unrelated) — barely correlated.
Where does this data come from?+
Live prices and history from Binance spot markets; market cap and supply from CoinLore. Past performance doesn't predict future returns.