HostGRT vs USDE — price, size and safety, side by side
GRT (Ethereum) vs USDE (Ethereum) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-10-16 / 2026-10-17.
GRT vs USDE — normalized performance, 2026-09-27 to 2026-10-16T21:15:32
| GRT | USDE | |
|---|---|---|
| Price | $0.02465 | $1.00 |
| Market cap | $291.13M | $4.80B |
| 24h volume | $27.27K DEX | $15.40M DEX |
| Liquidity | $119.49K | $13.17M |
| FDV | $287.38M | $4.80B |
| Holders | 172,259 | 48,976 |
| Age (days) | 1,813 | 84 |
| Safety grade | C | B |
Where they differ
- USDE measures ~16× the market cap of GRT
- USDE measures ~110× the liquidity of GRT
- USDE measures ~565× the 24h volume of GRT
- GRT measures ~3.5× the holder count of USDE
- over the shared window GRT moved −14.1% while USDE moved +0.05%
What the data says
GRT
GRT — 0xc944e90c64b2c07662a292be6244bdf05cda44a7 — is The Graph's work token, the asset indexers stake and delegators bond to secure the indexing layer a large share of DeFi queries run through. Five years old, it is infrastructure by tenure as much as by function.
The October 9, 2026 snapshot reads a $291.1 million market cap — FDV sits at $309.9 million, so supply is essentially fully circulating — with 172,259 holders and $119.5 thousand of tracked depth on the venues this ledger prices. The day is strong: +14.1%.
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, GRT or USDE?
By tracked market cap: GRT (Ethereum) measures $291.13M and USDE (Ethereum) measures $4.80B — dated snapshots, not a live feed.
Which is safer, GRT or USDE?
On the contract checks we publish: GRT (Ethereum) grades C and USDE (Ethereum) grades B. A grade is a structural check on the contract, not a promise about the asset.
How have GRT and USDE performed over the shared window?
Between 2026-09-27 and 2026-10-16T21:15:32, the measured snapshots show GRT at −14.1% and USDE at +0.05%.
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→2026-10-16T21:15:32; 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.