HostUSDM vs RAY — price, size and safety, side by side
USDM (Ethereum) vs RAY (Solana) — every figure is the freshest dated measurement we hold for that token, never a live-feed guess. Prices stamped 2026-09-26 / 2026-09-27.
USDM vs RAY — normalized performance, 2026-09-18T04:43:53 to 2026-09-26T21:07:21
| USDM | RAY | |
|---|---|---|
| Price | $0.9968 | $2.17 |
| Market cap | $6.50B | $538.82M |
| 24h volume | $7.97M | $17.26M |
| Liquidity | $20.11M | $19.53M |
| FDV | $6.50B | $1.11B |
| Holders | 175 | 265,730 |
| Age (days) | 1,021 | — |
| Safety grade | B | A |
Where they differ
- USDM measures ~12× the market cap of RAY
- RAY measures ~2.2× the 24h volume of USDM
- RAY measures ~1,518× the holder count of USDM
- over the shared window USDM moved 0.00% while RAY moved +88.2%
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.
RAY
RAY predates almost everything else on this site. Raydium launched in February 2021 as one of Solana's first serious AMMs, survived the 2022 collapse that took down much of the ecosystem around it, and then caught the largest tailwind in Solana's history: for a long stretch of the memecoin era, graduating pump.fun tokens landed their liquidity on Raydium, making it the venue where the frenzy actually settled. The token at mint 4k3Dyjzvzp8eMZWUXbBCjEvwSkkk59S5iCNLY3QrkX6R carries roughly $538.8 million of market capitalization and 265,730 holders as of the September 26, 2026 snapshot.
Structure first, as always: mint authority revoked, freeze authority revoked. After more than five years on-chain, the supply mechanics hold no surprises — what circulates is what exists, and no authority can lock a holder out of exiting. Tracked on-chain liquidity reads about $19.5 million in this snapshot, healthy in absolute terms and, fittingly for a DEX's own token, much of it sitting in Raydium's own pools.
FAQ
Which is bigger, USDM or RAY?
By tracked market cap: USDM (Ethereum) measures $6.50B and RAY (Solana) measures $538.82M — dated snapshots, not a live feed.
Which is safer, USDM or RAY?
On the contract checks we publish: USDM (Ethereum) grades B and RAY (Solana) grades A. A grade is a structural check on the contract, not a promise about the asset.
How have USDM and RAY performed over the shared window?
Between 2026-09-18T04:43:53 and 2026-09-26T21:07:21, the measured snapshots show USDM at 0.00% and RAY at +88.2%.
More comparisons
PAXG vs USDMUSDM vs JUPUSDOLD SLERF vs USDMUSDM vs KBTCJUPUSD vs RAYRAY vs KBTCPAXG vs RAYRAY vs BOME
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→2026-09-26T21:07:21; 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.