USDTvsDAI
Tether vs Dai — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDT — Tether
DAI — Dai
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDT supply moved -0.6% and DAI -1.6% — USDT grew faster. DAI held the tighter band: worst deviation 4 bps against 14 bps.
Key differences
- USDT is roughly 38.2× larger than DAI by USD circulation value ($183.08B vs $4.79B).
- USDT ranks #1 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.
- USDT is a fiat-backed stablecoin; DAI is crypto-backed. Different mechanism, different failure modes.
- Reserves differ — USDT holds cash & t-bills, DAI holds overcollateralized crypto cdp.
- USDT is deployed on 130 chains — much broader coverage than DAI's 49.
- Primary chain differs — most USDT supply lives on Tron, while most DAI supply is on Ethereum.
Full comparison table
| Metric | USDT | DAI |
|---|---|---|
| USD circulation value | $183.08B | $4.79B |
| Rank (by USD value) | #1 | #4 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Cash & T-bills | Overcollateralized crypto CDP |
| Chains deployed | 130 | 49 |
| Primary chain | Tron | Ethereum |
| Issuer | Tether Limited | Sky (formerly MakerDAO) |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDT and DAI?
Both track USD, so they compete for the same use cases. USDT holds cash & t-bills; DAI holds overcollateralized crypto cdp. USDT ranks #1 by USD value and DAI ranks #4.
Which is bigger, USDT or DAI?
USDT is larger, with $183.08B in circulation vs $4.79B for DAI. That's roughly 38.2× the size.
Is USDT 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. USDT 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 USDT and DAI?
Yes. USDT 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 USDT or DAI?
The right choice depends on your use case. Consider: which chain do you need? USDT is available on 130 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.