USDCvsGHO
USD Coin vs GHO — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDC — USD Coin
GHO — GHO
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDC supply moved -1.6% and GHO +16.7% — GHO grew faster. USDC held the tighter band: worst deviation 5 bps against 26 bps.
Key differences
- USDC is roughly 103.5× larger than GHO by USD circulation value ($72.21B vs $697.5M).
- USDC ranks #2 while GHO ranks #17 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; GHO is crypto-backed. Different mechanism, different failure modes.
- Reserves differ — USDC holds cash & t-bills, GHO holds overcollateralized (aave).
- USDC is deployed on 154 chains — much broader coverage than GHO's 2.
Full comparison table
| Metric | USDC | GHO |
|---|---|---|
| USD circulation value | $72.21B | $697.5M |
| Rank (by USD value) | #2 | #17 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills | Overcollateralized (Aave) |
| Chains deployed | 154 | 2 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Circle | Aave |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDC and GHO?
Both track USD, so they compete for the same use cases. USDC holds cash & t-bills; GHO holds overcollateralized (aave). USDC ranks #2 by USD value and GHO ranks #17.
Which is bigger, USDC or GHO?
USDC is larger, with $72.21B in circulation vs $697.5M for GHO. That's roughly 103.5× the size.
Is USDC safer than GHO?
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; GHO uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDC and GHO?
Yes. USDC and GHO 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 GHO?
The right choice depends on your use case. Consider: which chain do you need? USDC is available on 154 chains and GHO 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.