USDCvsDAI
USD Coin vs Dai — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDC — USD Coin
DAI — Dai
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Supply moved almost identically over the last 30 days: USDC -1.6%, DAI -1.6%. Both held within about 5 bps of target across the same window.
Key differences
- USDC is roughly 15.1× larger than DAI by USD circulation value ($72.21B vs $4.79B).
- USDC ranks #2 while DAI ranks #4 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- USDC is a fiat-backed stablecoin; DAI is crypto-backed. Different mechanism, different failure modes.
- Reserves differ — USDC holds cash & t-bills, DAI holds overcollateralized crypto cdp.
- USDC is deployed on 154 chains — much broader coverage than DAI's 49.
Full comparison table
| Metric | USDC | DAI |
|---|---|---|
| USD circulation value | $72.21B | $4.79B |
| Rank (by USD value) | #2 | #4 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills | Overcollateralized crypto CDP |
| Chains deployed | 154 | 49 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Circle | Sky (formerly MakerDAO) |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDC and DAI?
Both track USD, so they compete for the same use cases. USDC holds cash & t-bills; DAI holds overcollateralized crypto cdp. USDC ranks #2 by USD value and DAI ranks #4.
Which is bigger, USDC or DAI?
USDC is larger, with $72.21B in circulation vs $4.79B for DAI. That's roughly 15.1× the size.
Is USDC safer than DAI?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. USDC uses a fiat-backed model; DAI uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDC and DAI?
Yes. USDC and DAI 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 USDC or DAI?
The right choice depends on your use case. Consider: which chain do you need? USDC is available on 154 chains and DAI on 49. 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.