Ethena Launches USDe and sUSDe on TRON Network
Ethena (ENA)
Editor:
Eugene Serbin
Coinfea.com reports that TRON DAO and Ethena Labs announced the live availability of USDe and sUSDe on the TRON network on September 11, 2026. Users can now bridge these assets via Stargate Finance to hold or transfer them across the network. Support for JustLend DAO and SUN.io is expected to roll out in the coming weeks.
USDe remains connected to liquidity on Ethena’s other supported networks to support interoperability. Justin Sun, Founder of TRON, stated that millions rely on TRON for payments and value movement, noting the integration broadens user options. Guy Young, Founder of Ethena Labs, highlighted that TRON users can now hold a dollar that accrues rewards on the network they already use.
USDe is now supported across more than a dozen networks and integrated with leading exchanges. Ethena’s USDe is described as the fastest-growing USD-denominated crypto asset in history. The project is backed by Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit, and OKX.
TRON hosts the largest circulating supply of USDT, exceeding $94 billion, with over 403 million total user accounts. The blockchain has recorded more than 15 billion total transactions and over $28 billion in total value locked.
How the market reacted
Whalio's own Binance spot order flow for ENA, measured when this story was written up on 11 September 2026. Not the outlet's figures.
Whalio data shows ENA trading at $0.1429 with a 24-hour buy ratio of 50.3%. The 1-hour buy ratio stands at 54.3%, indicating stronger immediate buying pressure compared to the 24-hour average of 50.3%. However, the 4-hour buy ratio is lower at 43.1%, suggesting that buying momentum has faded over the recent four-hour window. Volume Delta for the last hour is positive at +$628,050, while the 4-hour delta is negative at -$624,963. This indicates that recent short-term trades favored buyers, but the broader four-hour trend saw net selling. The 24-hour Volume Delta is +$225,884, showing net buying over the full day. CVD for the 24-hour close is +$773,031, confirming that cumulative buying pressure exceeded selling pressure over the period.
The latest daily buy ratio of 42.7% sits at the 1st percentile of the last 324 days, against a median of 49.0% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for ENA, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.3%, making today’s 24-hour ratio of 50.3% slightly higher by 1.0 point. Spot volume for the 24-hour period was $34,124,211, which is 0.81 times the weekly average, indicating lower than usual trading activity. The coin experienced a price change of -15.1% over the last eight days. Volume Delta for the 8-day period totaled -$3,110,230, showing a net outflow of capital over the week. Only 2 of the 7 days recorded net buying, suggesting that selling pressure has been the dominant trend recently. This day represents a modest improvement in buy ratio but continues the pattern of lower volume and net negative delta seen over the week.