HostPYUSD vs USDM — price, size and safety, side by side
PYUSD (Ethereum) vs USDM (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.
PYUSD vs USDM — normalized performance, 2026-09-08 to 2026-10-17T03:15:24
| PYUSD | USDM | |
|---|---|---|
| Price | $0.9987 | $0.9928 |
| Market cap | $2.87B | $6.50B |
| 24h volume | $22.51M DEX | $7.97M DEX |
| Liquidity | $61.19M | $57.34M |
| FDV | $1.76B | $6.50B |
| Holders | 111,057 | 175 |
| Age (days) | 268 | 1,021 |
| Safety grade | B | B |
Where they differ
- USDM measures ~2.3× the market cap of PYUSD
- PYUSD measures ~2.8× the 24h volume of USDM
- PYUSD measures ~635× the holder count of USDM
What the data says
PYUSD
PYUSD is what a stablecoin looks like when it's built for regulators first and DeFi second. PayPal USD is issued not by PayPal directly but by Paxos Trust Company, a New York–chartered trust supervised by NYDFS, with reserves held in dollar deposits, U.S. Treasuries, and equivalents, attested monthly. The Ethereum deployment lives at 0x6c3ea9036406852006290770bedfcaba0e23a0e8, where HostDeFi's October 9, 2026 snapshot records roughly $61 million of tracked pool liquidity and $11 million of daily on-chain volume — modest next to USDC or USDT, in keeping with a coin whose primary life is inside PayPal and Venmo balances rather than on DEXes.
Read the contract powers through the regulated-issuer lens or you'll misread them as red flags. PYUSD's contract can mint (against dollars in), burn (against dollars out), pause transfers entirely, and freeze or even wipe balances at specific addresses under Paxos's asset-protection role. On an anonymous token, that list is a rug in waiting; here it is the legally mandated toolkit of a New York trust company, and NYDFS supervision is precisely the reason those powers exist. The trade you make holding PYUSD is explicit: maximum issuer accountability, in exchange for maximum issuer control.
USDM
USDM is Mountain Protocol's yield-bearing dollar — a regulated, rebasing stablecoin that pays T-bill yield to holders by growing their balance rather than requiring a stake contract. The deployment 0xbbaec992fc2d637151daf40451f160bf85f3c8c1 is the Ethereum mint; our October 6, 2026 snapshot reads $57 million of tracked pool liquidity.
The honest mechanics: rebasing means balance and "value" move together — a wallet holding USDM sees the unit count tick up daily as yield accrues, which is elegant until accounting or a DeFi pool assumes a static balance. Regulated in Bermuda, permissioned to hold — both the feature set and the limitation come from the same compliance posture.
FAQ
Which is bigger, PYUSD or USDM?
By tracked market cap: PYUSD (Ethereum) measures $2.87B and USDM (Ethereum) measures $6.50B — dated snapshots, not a live feed.
Which is safer, PYUSD or USDM?
On the contract checks we publish: PYUSD (Ethereum) grades B and USDM (Ethereum) grades B. A grade is a structural check on the contract, not a promise about the asset.
How have PYUSD and USDM performed over the shared window?
Between 2026-09-08 and 2026-10-17T03:15:24, the measured snapshots show PYUSD at −0.13% and USDM 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→2026-10-17T03:15:24; 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.