USDCvsUSDTB
USD Coin vs Ethena USDtb — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDC — USD Coin
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 USDC supply moved +2.5% and USDTB +30.6% — USDTB grew faster. USDC held the tighter band: worst deviation 5 bps against 7 bps.
Key differences
- USDC is roughly 139.7× larger than USDTB by USD circulation value ($73.70B vs $527.4M).
- USDC ranks #2 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.
- Both are fiat-backed stablecoins, so the mechanism is not what separates them.
- Reserves differ — USDC holds cash & t-bills, USDTB holds tokenized us treasuries (ethena).
- USDC is deployed on 157 chains — much broader coverage than USDTB's 2.
Full comparison table
| Metric | USDC | USDTB |
|---|---|---|
| USD circulation value | $73.70B | $527.4M |
| Rank (by USD value) | #2 | #20 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | Tokenized US Treasuries (Ethena) |
| Chains deployed | 157 | 2 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Circle | Ethena Labs |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDC and USDTB?
Both track USD, so they compete for the same use cases. USDC holds cash & t-bills; USDTB holds tokenized us treasuries (ethena). USDC ranks #2 by USD value and USDTB ranks #20.
Which is bigger, USDC or USDTB?
USDC is larger, with $73.70B in circulation vs $527.4M for USDTB. That's roughly 139.7× the size.
Is USDC 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. Both use a fiat-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDC and USDTB?
Yes. USDC 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 USDC or USDTB?
The right choice depends on your use case. Consider: which chain do you need? USDC is available on 157 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.