HostUSDE vs CASH — price, size and safety, side by side
USDE (Ethereum) vs CASH (Solana) — 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.
USDE vs CASH — normalized performance, 2026-09-08 to 2026-10-17T06:15:22
| USDE | CASH | |
|---|---|---|
| Price | $1.00 | $0.9994 |
| Market cap | $4.80B | $132.57M |
| 24h volume | $15.40M DEX | $15.59M DEX |
| Liquidity | $13.17M | $7.56M |
| FDV | $4.80B | $132.57M |
| Holders | 48,976 | 644,259 |
| Age (days) | 84 | — |
| Safety grade | B | A |
Where they differ
- USDE measures ~36× the market cap of CASH
- USDE measures ~1.7× the liquidity of CASH
- CASH measures ~13× 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 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.
CASH
Start with what this page could not confirm, because for CASH it's the headline: in HostDeFi's October 6, 2026 snapshot, neither the mint authority nor the freeze authority resolved to a definitive state. On Solana those are the two levers that decide whether supply can be inflated and whether a holder can be frozen out of selling — the first two questions asked of any token — and for this mint, at CASHx9KJUStyftLFWGvEVf59SGeG9sh5FfcnZMVPCASH, our snapshot answers "unconfirmed" to both. The live scanner at the top of this page reads them directly from the chain in seconds; on this token, run it before anything else.
What the snapshot does establish is a substantial footprint: roughly $132.6 million of market capitalization, 644,259 holders, and about $7.6 million of tracked on-chain liquidity. Over half a million wallets is genuine distribution — the profile of a token that reached a real crowd, whether through an app, an airdrop, or a trading frenzy — and the depth is workable for ordinary trade sizes, with the usual caution that a nine-figure mcap over eight-figure pools means large exits move price.
FAQ
Which is bigger, USDE or CASH?
By tracked market cap: USDE (Ethereum) measures $4.80B and CASH (Solana) measures $132.57M — dated snapshots, not a live feed.
Which is safer, USDE or CASH?
On the contract checks we publish: USDE (Ethereum) grades B and CASH (Solana) grades A. A grade is a structural check on the contract, not a promise about the asset.
How have USDE and CASH performed over the shared window?
Between 2026-09-08 and 2026-10-17T06:15:22, the measured snapshots show USDE at +0.07% and CASH at −0.04%.
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→2026-10-17T06:15:22; 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.