HostUSDB vs USDE — price, size and safety, side by side
USDB (Blast) vs USDE (Ethereum) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-10-17 / 2026-10-17.
USDB vs USDE — normalized performance, 2026-10-09 to 2026-10-17T03:15:24
| USDB | USDE | |
|---|---|---|
| Price | $0.9954 | $1.00 |
| Market cap | $10.33M | $4.80B |
| 24h volume | $87.10K DEX | $15.40M DEX |
| Liquidity | $714.22K | $13.17M |
| FDV | $10.27M | $4.80B |
| Holders | 211,006 | 48,976 |
| Age (days) | 943 | 84 |
| Safety grade | B | B |
Where they differ
- USDE measures ~465× the market cap of USDB
- USDE measures ~18× the liquidity of USDB
- USDE measures ~177× the 24h volume of USDB
- USDB measures ~4.3× the holder count of USDE
What the data says
USDB
One detail on USDB didn't fully resolve in the 2026-10-09 snapshot: its contract controls. So it's best treated as unconfirmed rather than assumed clean, and a quick live scan will confirm the current state for you.
Here's where USDB stands today: deep liquidity of $714.22K, 211,006 holders and an established record at 943 days as of 2026-10-09. Against roughly $10.33M in market cap, the $714.22K of liquidity is genuinely healthy: deep enough that ordinary trades clear cleanly, which is exactly what you want to see. With 211,006 holders, ownership is spread wide — the opposite of the handful-of-wallets setup that lets one seller steer the price.
USDE
USDe is Ethena's synthetic dollar — a stablecoin that holds its peg not with bank deposits but with a delta-neutral trade: spot crypto collateral (staked ETH, liquid stables) hedged by short perpetual futures, so the portfolio's dollar value stays flat whatever the market does. The contract 0x4c9edd5852cd905f086c759e8383e09bff1e68b3 is the canonical Ethereum deployment — USDe also exists on Solana under a different mint, where it is one of the deeper stable pools in our corpus. Our October 9, 2026 read shows $13.2 million of tracked pool liquidity on the mainnet venues.
The honest mechanics: USDe's yield is not magic — it is the funding-rate spread between staking yield and the perp market's willingness to pay longs, and that spread can and does go negative. When funding flips, Ethena pays the hedge instead of earning it, and the carry can invert into a slow bleed. The second layer is counterparty: the short positions sit on offshore exchanges through settlement custody, so exchange failures or frozen collateral are real, non-theoretical risks — the design survived the October 2025 liquidation cascade, which is evidence, not a guarantee. It is also not the same risk shape as UST: USDe is fully collateralized at inception; the failure mode is a sustained negative-funding grind plus a custody break, not a mint-redeem death spiral.
FAQ
Which is bigger, USDB or USDE?
By tracked market cap: USDB (Blast) measures $10.33M and USDE (Ethereum) measures $4.80B — dated snapshots, not a live feed.
Which is safer, USDB or USDE?
On the contract checks we publish: USDB (Blast) grades B and USDE (Ethereum) grades B. A grade is a structural check on the contract, not a promise about the asset.
How have USDB and USDE performed over the shared window?
Between 2026-10-09 and 2026-10-17T03:15:24, the measured snapshots show USDB at +0.71% and USDE at +0.13%.
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, 2026-10-09→2026-10-17T03:15:24; 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.