HostUSDE vs AGX — price, size and safety, side by side
USDE (Ethereum) vs AGX (BNB Chain) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-09-27 / 2026-09-27.
USDE vs AGX — normalized performance, 2026-09-21 to 2026-09-27T15:10:18
| USDE | AGX | |
|---|---|---|
| Price | $0.9991 | $17.27 |
| Market cap | $4.94B | $35.54M |
| 24h volume | $10.82M | $1.78M |
| Liquidity | $14.81M | $14.02M |
| FDV | $4.94B | $35.07M |
| Holders | 48,804 | 109,055 |
| Age (days) | 66 | 65 |
| Safety grade | B | C |
Where they differ
- USDE measures ~139× the market cap of AGX
- USDE measures ~6.1× the 24h volume of AGX
- AGX measures ~2.2× the holder count of USDE
- over the shared window USDE moved −0.22% while AGX moved −5.91%
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 September 27, 2026 read shows $14.8 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.
AGX
AGX — AEGIS X at 0xe766023f5a0fa6ce91b9f98d327771437dfca077 — is a 65-day-old BNB Chain book priced at a $35.5 million market cap against $14.0 million of tracked liquidity at the September 27, 2026 snapshot.
The market side is unusually strong for the age: a pool covering that much of the cap is the deepest ratio in this batch, and roughly $10.6 million of daily volume turns most of it over every day — real two-sided flow, not a stagnant book. What the snapshot could not confirm is the contract itself: mint, pause and upgrade controls were not assessed, so the levers a bad actor would want are unverified rather than cleared.
FAQ
Which is bigger, USDE or AGX?
By tracked market cap: USDE (Ethereum) measures $4.94B and AGX (BNB Chain) measures $35.54M — dated snapshots, not a live feed.
Which is safer, USDE or AGX?
On the contract checks we publish: USDE (Ethereum) grades B and AGX (BNB Chain) grades C. A grade is a structural check on the contract, not a promise about the asset.
How have USDE and AGX performed over the shared window?
Between 2026-09-21 and 2026-09-27T15:10:18, the measured snapshots show USDE at −0.22% and AGX at −5.91%.
More comparisons
USDE vs WEETHARC vs USDEUSDE vs UUSDE vs USDCUSDC vs AGXU vs AGXWEETH vs AGXAGX vs AZTEC
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, 2026-09-21→2026-09-27T15:10:18; 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 NexFlow product.