Ethena USDe vs PAX Gold

Ethena USDe is a stablecoin liquidity rail with $4.94B in market cap, while PAX Gold is a PAXG market beta asset with $1.86B. The useful comparison is market role, liquidity, seven-day direction, and which follow-up page gives the cleaner next decision.

Snapshot comparison. USDE data as of Sep 27, 2026, 1:20 AM UTC; PAXG data as of Sep 27, 2026, 1:20 AM UTC. Mixed CoinGecko and fallback snapshot. Values can differ in age and are not executable quotes. Data methodology.

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Comparison Table

What changes between USDE and PAXG.

Compare market role and supply as well as unit price. Reported trading volume is not the amount you can execute at the displayed price. This table is a research aid, not a recommendation.

Question	Ethena USDe	PAX Gold
Market role	stablecoin liquidity rail	PAXG market beta asset
Price	$0.999644	$4,279.02
Market cap	$4.94B	$1.86B
24h volume	$60.32M	$48.35M
7d change	+0.01%	-1.96%
Relative size	Ethena USDe is 2.66x PAX Gold's market cap	PAX Gold is 0.38x Ethena USDe's market cap
Volume comparison	Ethena USDe trades at 1.25x PAX Gold's 24h volume	PAX Gold trades at 0.80x Ethena USDe's 24h volume