HostUSDM vs KBTC — price, size and safety, side by side
USDM (Ethereum) vs KBTC (Ethereum) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-09-26 / 2026-09-26.
USDM vs KBTC — normalized performance, 2026-09-18T04:43:53 to 2026-09-26T18:07:24
| USDM | KBTC | |
|---|---|---|
| Price | $0.9968 | $83.98K |
| Market cap | $6.50B | $755.56M |
| 24h volume | $7.97M | $1.10M |
| Liquidity | $20.11M | $19.22M |
| FDV | $6.50B | $578.06M |
| Holders | 175 | 5,010 |
| Age (days) | 1,021 | 137 |
| Safety grade | B | B |
Where they differ
- USDM measures ~8.6× the market cap of KBTC
- USDM measures ~7.3× the 24h volume of KBTC
- KBTC measures ~29× the holder count of USDM
- over the shared window USDM moved 0.00% while KBTC moved +6.02%
What the data says
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 September 26, 2026 snapshot reads $20 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.
KBTC
KBTC is Kraken's wrapped Bitcoin — the exchange's entry into the custodial-BTC field that BitGo's WBTC defined and Coinbase's cbBTC made a two-horse race. The deployment 0x73e0c0d45e048d25fc26fa3159b0aa04bfa4db98 is the Ethereum mint; our September 26, 2026 snapshot reads $19 million of tracked pool liquidity — real but thin against the incumbents' billions.
The honest framing is custody-shaped: a wrapped BTC is a claim on whoever holds the underlying coins, so Kraken's operational record and regulatory posture are the actual asset backing this token — same trust model as WBTC and cbBTC, different custodian. The spread between this read and the leaders' depth is the market's verdict on how much of that custody people want exposure to on-chain versus at the exchange itself.
FAQ
Which is bigger, USDM or KBTC?
By tracked market cap: USDM (Ethereum) measures $6.50B and KBTC (Ethereum) measures $755.56M — dated snapshots, not a live feed.
Which is safer, USDM or KBTC?
On the contract checks we publish: USDM (Ethereum) grades B and KBTC (Ethereum) grades B. A grade is a structural check on the contract, not a promise about the asset.
How have USDM and KBTC performed over the shared window?
Between 2026-09-18T04:43:53 and 2026-09-26T18:07:24, the measured snapshots show USDM at 0.00% and KBTC at +6.02%.
More comparisons
PAXG vs USDMUSDM vs JUPUSDOLD SLERF vs USDMUSDM vs RAYRAY vs KBTCJUPUSD vs KBTCKBTC vs BOMEPAXG vs KBTC
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, 2026-09-18T04:43:53→2026-09-26T18:07:24; 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 NexFlow product.