HostSUSDE vs FRXUSD — price, size and safety, side by side
SUSDE (Ethereum) vs FRXUSD (Ethereum) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-10-17 / 2026-10-16.
SUSDE vs FRXUSD — normalized performance, 2026-09-08 to 2026-10-16T21:15:32
| SUSDE | FRXUSD | |
|---|---|---|
| Price | $1.25 | $1.00 |
| Market cap | $1.24B | $108.35M |
| 24h volume | $1.49M DEX | $1.55M DEX |
| Liquidity | $26.10M | $24.44M |
| FDV | $1.24B | $93.15M |
| Holders | 12,112 | 2,000 |
| Age (days) | 488 | 21 |
| Safety grade | E | B |
Where they differ
- SUSDE measures ~11× the market cap of FRXUSD
- SUSDE measures ~6.1× the holder count of FRXUSD
What the data says
SUSDE
sUSDe is the yield-bearing half of Ethena's system — USDe locked in the staking contract, accruing the funding-rate and staking yield the delta-neutral hedge generates. That is why it trades above a dollar ($1.24 at our October 6, 2026 read): the price is the receipt appreciating, not a peg. The contract 0x9d39a5de30e57443bff2a8307a4256c8797a3497 is the canonical Ethereum deployment; tracked pool liquidity reads $26.1 million.
The honest mechanics: holding sUSDe means opting into the full Ethena stack — the basis-trade carry (which can go negative), the offshore-exchange custody of the hedge, plus a ~7-day unstaking cooldown on the way out. The cooldown matters in stress: sUSDe can trade at a discount to its accrued value precisely when everyone wants the exit at once. None of this is hypothetical — it is the price of the yield.
FRXUSD
FRXUSD is Frax's dollar — the stablecoin of the protocol that pioneered fractional-algorithmic backing and later migrated to full collateralization, now issued against custodied reserves and yield-bearing positions. The deployment 0xcacd6fd266af91b8aed52accc382b4e165586e29 is the Ethereum mint; our October 6, 2026 snapshot reads $24.4 million of tracked pool liquidity.
The honest arc: Frax started as the algorithmic stable that held its peg with a collateral ratio dial — a design that survived the 2022 stablecoin shakeout where most algorithmics didn't — and the protocol has since moved toward conventional backing, which makes current frxUSD a different risk than its origin story suggests. The evolution is the point of checking the current reserve shape rather than the 2021 reputation.
FAQ
Which is bigger, SUSDE or FRXUSD?
By tracked market cap: SUSDE (Ethereum) measures $1.24B and FRXUSD (Ethereum) measures $108.35M — dated snapshots, not a live feed.
Which is safer, SUSDE or FRXUSD?
On the contract checks we publish: SUSDE (Ethereum) grades E and FRXUSD (Ethereum) grades B. A grade is a structural check on the contract, not a promise about the asset.
How have SUSDE and FRXUSD performed over the shared window?
Between 2026-09-08 and 2026-10-16T21:15:32, the measured snapshots show SUSDE at +0.20% and FRXUSD at +0.40%.
The grade column is the one CMC's compare page cannot print — our grade is computed from the contract itself (mint/freeze authority, liquidity, holder concentration). Changes are measured over the shared window stated on the chart, 2026-09-08→2026-10-16T21:15:32; a token with fewer measured points measures a shorter span inside it.
Figures are dated on-chain snapshots, not a live feed. Safety grades are structural checks — not investment advice. Free · no signup · a HostDeFi product.