Three months ago, USDe on Base was a rounding error. Today it’s a $337 million presence on Coinbase’s Layer 2 network, making it the fastest-growing stablecoin with at least $100 million in market cap. A 25,645% increase in 90 days will do that.
The numbers behind the surge
USDe now commands approximately 8.27% of its total global supply on Base alone. That global supply sits around $4.08 billion, spread across 21 different chains, with Ethereum still holding the lion’s share.
On Base specifically, USDe has climbed to the second-largest stablecoin position. That’s notable given Base’s total stablecoin supply is approximately $5 billion, with USDC dominating at roughly 85% market share.
Over the last 30 days, USDe recorded net inflows of $67 million on Base, which points to consistent minting activity rather than a single whale-driven spike.
