DAIvsUSDTB
Dai vs Ethena USDtb — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
DAI — Dai
USDTB — Ethena USDtb
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days DAI supply moved +0.2% and USDTB +30.6% — USDTB grew faster. DAI held the tighter band: worst deviation 2 bps against 7 bps.
Key differences
- DAI is roughly 9.1× larger than USDTB by USD circulation value ($4.79B vs $527.4M).
- DAI ranks #4 while USDTB ranks #20 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- DAI is a crypto-backed stablecoin; USDTB is fiat-backed. Different mechanism, different failure modes.
- Reserves differ — DAI holds overcollateralized crypto cdp, USDTB holds tokenized us treasuries (ethena).
- DAI is deployed on 49 chains — much broader coverage than USDTB's 2.
Full comparison table
| Metric | DAI | USDTB |
|---|---|---|
| USD circulation value | $4.79B | $527.4M |
| Rank (by USD value) | #4 | #20 |
| Peg | USD | USD |
| Mechanism | crypto-backed | fiat-backed |
| Backing | Overcollateralized crypto CDP | Tokenized US Treasuries (Ethena) |
| Chains deployed | 49 | 2 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Sky (formerly MakerDAO) | Ethena Labs |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between DAI and USDTB?
Both track USD, so they compete for the same use cases. DAI holds overcollateralized crypto cdp; USDTB holds tokenized us treasuries (ethena). DAI ranks #4 by USD value and USDTB ranks #20.
Which is bigger, DAI or USDTB?
DAI is larger, with $4.79B in circulation vs $527.4M for USDTB. That's roughly 9.1× the size.
Is DAI safer than USDTB?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. DAI uses a crypto-backed model; USDTB uses a fiat-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between DAI and USDTB?
Yes. DAI and USDTB both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose DAI or USDTB?
The right choice depends on your use case. Consider: which chain do you need? DAI is available on 49 chains and USDTB on 2. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.