sUSDe vs srUSD: 2025 TVL and Yield Comparison for Low-Risk Stablecoin Farming
In the ever-shifting landscape of DeFi, yield-bearing stablecoins like sUSDe and srUSD continue to draw savvy investors seeking steady returns without the rollercoaster of volatility. As we head deeper into 2025, Ethena’s sUSDe has faced headwinds, with its underlying USDe TVL retracting from a peak of $14.8 billion in early October to around $10.1 billion by month’s end. This pullback, amid yields dipping to about 4.72% in August, underscores the need for a clear-eyed sUSDe vs srUSD comparison, especially for low-risk stablecoin farming. Meanwhile, Reservoir Protocol’s srUSD holds promise with its asset-backed model, offering yields around 11.5% as noted earlier this year.
sUSDe’s TVL Trajectory: From Peak to Pullback
Ethena’s sUSDe, the staked version of USDe, rode high on delta-neutral strategies that once delivered explosive yields over 50% in early 2024. But reality has tempered enthusiasm. Recent data shows USDe supply peaking at $14.8 billion before sliding to $10.1 billion, with some reports highlighting a sharper drop to $7.6 billion as yields compressed below Aave’s USDC borrowing costs of 5.4%. At $1.21 per token, sUSDe reflects this strain, its 24-hour range hugging $1.20 to $1.21.
This TVL contraction signals deleveraging in high-risk strategies, yet sUSDe remains a heavyweight in yield bearing stablecoins 2025. Investors pulling out cite unsustainable funding rates from perpetuals and basis trades, but Ethena’s governance updates suggest resilience through diversified income streams.
In contrast, srUSD’s TVL metrics are more niche but growing. By March 2025, it boasted $35 million available for borrowing on Contango, ranking third in popularity. While not matching sUSDe’s scale, this positions srUSD as a contender for those prioritizing srUSD TVL growth in targeted DeFi loops.
Yield Realities: APY Showdown in a Cooling Market
Diving into yields reveals stark differences. sUSDe’s APY has evolved from mid-2024’s 7-12% band to 4.72% by August 2025, impacted by lower funding rates and basis compression. This sUSDe yield APY now trails srUSD’s steadier 11.5% from March, derived from real-world and digital asset performance.
sUSDe vs srUSD: 2026-2031 Price Predictions
Yield Accrual Projections for Low-Risk Stablecoin Farming Amid TVL Fluctuations and Yield Compression (Baseline: sUSDe $1.21, srUSD ~$1.18 as of late 2025)
| Year | sUSDe Min Price | sUSDe Avg Price | sUSDe Max Price | srUSD Min Price | srUSD Avg Price | srUSD Max Price |
|---|---|---|---|---|---|---|
| 2026 | $1.15 | $1.28 | $1.42 | $1.10 | $1.32 | $1.50 |
| 2027 | $1.18 | $1.35 | $1.55 | $1.15 | $1.42 | $1.70 |
| 2028 | $1.22 | $1.43 | $1.70 | $1.22 | $1.55 | $1.92 |
| 2029 | $1.28 | $1.52 | $1.88 | $1.30 | $1.70 | $2.15 |
| 2030 | $1.35 | $1.62 | $2.08 | $1.40 | $1.87 | $2.40 |
| 2031 | $1.43 | $1.73 | $2.30 | $1.50 | $2.05 | $2.65 |
Price Prediction Summary
sUSDe faces headwinds from recent 50% TVL drop to $7.6B and yield compression to ~5%, projecting conservative growth (avg +7% YoY) with bearish mins reflecting deleveraging risks. srUSD, with higher historical yields (~11%), poised for stronger appreciation (avg +9% YoY), potentially outperforming in bullish DeFi recovery scenarios. Prices driven by yield accrual, not volatility.
Key Factors Affecting staked USDe Price
- TVL recovery and DeFi adoption trends
- Yield dynamics from funding rates vs. borrowing costs
- Regulatory developments for synthetic stablecoins
- Competition from traditional stables and new yield protocols
- Market cycles, Ethereum scalability, and risk-on sentiment
Disclaimer: Cryptocurrency price predictions are speculative and based on current market analysis.
Actual prices may vary significantly due to market volatility, regulatory changes, and other factors.
Always do your own research before making investment decisions.
srUSD’s edge comes from its backing, blending stability with upside from underlying assets. Yet, sUSDe’s protocol sophistication offers potential rebound if market conditions favor Ethena’s hedges. For low-risk farmers, srUSD’s higher clip tempts, but sUSDe’s liquidity depth provides easier entry and exit.
Consider the mechanics: sUSDe accrues value via staked USDe, compounding automatically, while srUSD leverages Reservoir’s rebasing for seamless yields. Both aim for capital preservation, but recent USDe outflows highlight how leverage unwindings can erode TVL faster than expected.
Risk Profiles: Balancing Yield with Stability
Low-risk stablecoin farming demands scrutiny of underpinnings. sUSDe’s delta-neutral approach, heavy on Ethereum positions, exposes it to volatility in perps and collateral efficiency. Yields below borrowing costs have triggered exits, amplifying TVL drops and raising questions on long-term viability.
srUSD counters with diversified real-world assets, mitigating some crypto-native risks but introducing valuation dependencies. Its 11.5% yield feels robust against sUSDe’s current slump, yet smaller TVL means liquidity premiums in farming pools. Investors blending both could hedge: sUSDe for scale, srUSD for yield punch.
For portfolio builders, this duo exemplifies 2025’s maturation. sUSDe at $1.21 tests support, while srUSD quietly scales. Check sUSDe’s evolution for deeper protocol insights, as yields stabilize post-deleveraging.
Blending these assets starts with understanding their synergies. Pairing sUSDe’s liquidity with srUSD’s higher yield could smooth returns, especially as low risk stablecoin yields face pressure from broader DeFi deleveraging. Recent Binance data shows USDe deposits climbing to $734 million, hinting at lingering demand even amid TVL woes.
Head-to-Head Metrics: TVL, Yield, and Beyond
sUSDe vs srUSD: 2025 TVL and Yield Comparison
| Metric | sUSDe | srUSD | Sources |
|---|---|---|---|
| Current TVL 📊 | $7.6B (retracted from $14.8B peak to $10.1B, now $7.6B 📉) |
$35M (Contango) | Ethena Gov, PANews, CryptoRank, Outposts.io |
| APY 💰 | 4.72% | 11.5% | CoinMarketCap (Aug 2025), Outposts.io (Mar 2025) |
| Risks ⚠️ | Delta-neutral (Ethereum basis trading, volatility risks) |
Asset-backed (RWA + digital assets) |
Bee.com, Outposts.io |
This snapshot highlights srUSD’s yield advantage in a compressed market, while sUSDe dominates in sheer scale. For 2025 projections, sUSDe’s APY could rebound to 7-10% if funding rates recover, per historical patterns. srUSD, with its real-world asset ties, might hold steadier but scale slower without massive inflows.
It seems like Binance’s USDe balance is going to flip Bybit by today https://t.co/KGEAjIt06v
DeFi platforms like Contango amplify srUSD’s appeal, where its $35 million borrowing pool underscores growing adoption. Yet sUSDe’s Ethereum-centric hedges provide battle-tested infrastructure, appealing to those farming across chains.
Strategic Farming Approaches for 2025 Portfolios
Low-risk farming thrives on diversification. Allocate 60% to sUSDe for liquidity and automatic compounding at its current $1.21 price point, balancing with 40% srUSD to capture that 11.5% yield. Monitor Aave borrow rates closely; if they dip below sUSDe’s output, rotations make sense.
Practical steps include staking via Ethena’s app for sUSDe, ensuring wallet security, and integrating srUSD into Reservoir pools. Avoid over-leverage; stick to uncollateralized yields. This hybrid captures yield bearing stablecoins 2025 upside while cushioning downturns, much like traditional fixed-income ladders.
Balance isn’t about chasing peaks; it’s sustaining gains through cycles. – Evelyn Shepard
Explore further with our top yield-bearing stablecoins breakdown, covering sDAI and others alongside these contenders. As TVL stabilizes, both sUSDe and srUSD position patient farmers for compounded growth. Watch sUSDe’s $1.21 level for entry signals, and srUSD’s Contango traction for momentum. Your portfolio’s resilience hinges on informed positioning now.
Stay vigilant with real-time alerts; opportunities in stablecoin yields reward the prepared.
