HostUSDE vs GRT — price, size and safety, side by side
USDE (Ethereum) vs GRT (Ethereum) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-09-27 / 2026-09-27.
USDE vs GRT — normalized performance, 2026-09-27 to 2026-09-27T21:19:38
| USDE | GRT | |
|---|---|---|
| Price | $0.9991 | $0.02869 |
| Market cap | $4.94B | $313.95M |
| 24h volume | $10.82M | $22.25K |
| Liquidity | $14.81M | $128.33K |
| FDV | $4.94B | $309.90M |
| Holders | 48,804 | 171,927 |
| Age (days) | 66 | — |
| Safety grade | B | C |
Where they differ
- USDE measures ~16× the market cap of GRT
- USDE measures ~115× the liquidity of GRT
- USDE measures ~486× the 24h volume of GRT
- GRT measures ~3.5× the holder count of USDE
What the data says
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 September 27, 2026 read shows $14.8 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.
GRT
The most important thing to know about GRT is its authority setup. Right now GRT's contract keeps its mint function (2026-09-27 snapshot), so whoever holds it can create new supply at any point. It's the main reason the read sits at 61/100 (grade C) today — and the clearest path to a higher grade is simply removing it.
By the numbers, GRT is showing thin liquidity of $128.33K and 171,927 wallets holding as of 2026-09-27. Set the $128.33K pool against roughly $313.95M in market cap and the picture sharpens — depth is shallow for the size, so trades move the price more than the chart suggests and getting out cleanly takes care. With 171,927 holders, ownership is spread wide — the opposite of the handful-of-wallets setup that lets one seller steer the price. Reassuringly, the wallet that created GRT holds under 5% of supply (<0.01%) as of 2026-09-27 — the deployer hasn't kept an oversized stake to unload.
FAQ
Which is bigger, USDE or GRT?
By tracked market cap: USDE (Ethereum) measures $4.94B and GRT (Ethereum) measures $313.95M — dated snapshots, not a live feed.
Which is safer, USDE or GRT?
On the contract checks we publish: USDE (Ethereum) grades B and GRT (Ethereum) grades C. A grade is a structural check on the contract, not a promise about the asset.
How have USDE and GRT performed over the shared window?
Between 2026-09-27 and 2026-09-27T21:19:38, the measured snapshots show USDE at 0.00% and GRT at 0.00%.
More comparisons
USDE vs WEETHARC vs USDEUSDE vs UUSDE vs USDCFRAX vs GRTGRT vs RFCGRT vs SCFGRT vs HABITAT
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, 2026-09-27→2026-09-27T21:19:38; 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.