HostUSDE vs REUSD — price, size and safety, side by side
USDE (Ethereum) vs REUSD (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.
USDE vs REUSD — normalized performance, 2026-09-08 to 2026-10-17T03:15:24
| USDE | REUSD | |
|---|---|---|
| Price | $1.00 | $0.9658 |
| Market cap | $4.80B | $46.87M |
| 24h volume | $15.40M DEX | $1.79M DEX |
| Liquidity | $13.17M | $13.13M |
| FDV | $4.80B | $46.87M |
| Holders | 48,976 | 448 |
| Age (days) | 84 | 543 |
| Safety grade | B | C |
Where they differ
- USDE measures ~102× the market cap of REUSD
- USDE measures ~8.6× the 24h volume of REUSD
- USDE measures ~109× the holder count of REUSD
- over the shared window USDE moved +0.07% while REUSD moved −12.2%
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.
REUSD
Resupply USD is the stablecoin Resupply Finance mints against Curve/Convex positions — a lending-market stable that routes its yield back to holders through the protocol's own machinery rather than a central custodian. The deployment 0x57ab1e0003f623289cd798b1824be09a793e4bec sits alongside its sibling reUSD issuance in this index; the October 6, 2026 snapshot reads $13 million of tracked pool liquidity across the pair set.
The honest shape: an overcollateralized DeFi stable trades the stablecoin trilemma directly — its peg quality is a function of the collateral book and the liquidation engine, both verifiable on-chain but neither guaranteed. What Resupply buys with that complexity is yield generation that doesn't route through an issuer's P&L.
FAQ
Which is bigger, USDE or REUSD?
By tracked market cap: USDE (Ethereum) measures $4.80B and REUSD (Ethereum) measures $46.87M — dated snapshots, not a live feed.
Which is safer, USDE or REUSD?
On the contract checks we publish: USDE (Ethereum) grades B and REUSD (Ethereum) grades C. A grade is a structural check on the contract, not a promise about the asset.
How have USDE and REUSD performed over the shared window?
Between 2026-09-08 and 2026-10-17T03:15:24, the measured snapshots show USDE at +0.07% and REUSD at −12.2%.
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.