Ethena USDe vs PayPal USD

Ethena USDe is a stablecoin liquidity rail with $4.94B in market cap, while PayPal USD is a stablecoin liquidity rail with $2.78B. The useful comparison is market role, liquidity, seven-day direction, and which follow-up page gives the cleaner next decision.

Snapshot comparison. USDE data as of Sep 27, 2026, 1:20 AM UTC; PYUSD data as of Sep 27, 2026, 1:20 AM UTC. Mixed CoinGecko and fallback snapshot. Values can differ in age and are not executable quotes. Data methodology.

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Comparison Table

What changes between USDE and PYUSD.

Compare market role and supply as well as unit price. Reported trading volume is not the amount you can execute at the displayed price. This table is a research aid, not a recommendation.

Question	Ethena USDe	PayPal USD
Market role	stablecoin liquidity rail	stablecoin liquidity rail
Price	$0.999644	$0.999888
Market cap	$4.94B	$2.78B
24h volume	$60.32M	$81.32M
7d change	+0.01%	+0.01%
Relative size	Ethena USDe is 1.78x PayPal USD's market cap	PayPal USD is 0.56x Ethena USDe's market cap
Volume comparison	Ethena USDe trades at 0.74x PayPal USD's 24h volume	PayPal USD trades at 1.35x Ethena USDe's 24h volume