HostAPXUSD vs USDTB — price, size and safety, side by side
APXUSD (Ethereum) vs USDTB (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.
APXUSD vs USDTB — normalized performance, 2026-09-26 to 2026-10-17T03:15:24
| APXUSD | USDTB | |
|---|---|---|
| Price | $0.9859 | $0.9997 |
| Market cap | $314.83M | $490.66M |
| 24h volume | $2.45M DEX | $242.44K DEX |
| Liquidity | $12.85M | $10.50M |
| FDV | $296.86M | $490.66M |
| Holders | 1,868 | 295,077 |
| Age (days) | 71 | 631 |
| Safety grade | B | B |
Where they differ
- USDTB measures ~1.6× the market cap of APXUSD
- APXUSD measures ~10× the 24h volume of USDTB
- USDTB measures ~158× the holder count of APXUSD
What the data says
APXUSD
apxUSD on Ethereum — the synthetic, yield-bearing dollar associated with the APX/Aster perpetuals ecosystem — at contract 0x98a878b1cd98131b271883b390f68d2c90674665. The October 9, 2026 snapshot records about $12.9 million of tracked Ethereum-side liquidity.
Two structures to understand here. First the instrument: apxUSD is not a fiat-backed stablecoin — its backing is a trading strategy (funding-rate/basis exposure run by the issuer), which means the peg's reliability is a function of strategy performance rather than redeemable reserves. Second the venue: apxUSD's home is BNB Chain where Aster's perp business runs; the Ethereum deployment is a secondary venue, and the liquidity on this chain is what you actually trade against.
USDTB
USDtb is BlackRock's tokenized-T-bill answer to Tether — the stablecoin Ethena issues backed by BUIDL fund shares, built to hold a dollar peg with the largest asset manager's fund as the reserve. The deployment 0xc139190f447e929f090edeb554d95abb8b18ac1c is the Ethereum mint; our October 6, 2026 snapshot reads $11 million of tracked pool liquidity.
The honest framing: USDtb's reserve is only as liquid as BUIDL itself — a fund that settles like a security, not a money-market claim, which means redemptions inherit the fund's terms, not a stablecoin's usual instant-exit promise. That is a feature for holders who want T-bill duration and a constraint for anyone assuming redemption is instant.
FAQ
Which is bigger, APXUSD or USDTB?
By tracked market cap: APXUSD (Ethereum) measures $314.83M and USDTB (Ethereum) measures $490.66M — dated snapshots, not a live feed.
Which is safer, APXUSD or USDTB?
On the contract checks we publish: APXUSD (Ethereum) grades B and USDTB (Ethereum) grades B. A grade is a structural check on the contract, not a promise about the asset.
How have APXUSD and USDTB performed over the shared window?
Between 2026-09-26 and 2026-10-17T03:15:24, the measured snapshots show APXUSD at +1.78% and USDTB at −0.08%.
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, 2026-09-26→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.