Coinbase Bridge vs Ethena
Compare Coinbase Bridge and Ethena on TVL, fees, revenue and activity to understand how these projects stack up.
$7.863B
cbBTC is Coinbase’s wrapped Bitcoin launched on Base and Ethereum to simplify DeFi access for exchange users. Custody is handled by Coinbase Prime with a daily on‑chain proof‑of‑reserve attestation signed by Deloitte. cbBTC is fungible 1:1 with native BTC and charges zero conversion fees during promotional periods.
View Full Page$4.712B
USDe is Ethena’s synthetic dollar backed by delta‑neutral ETH perpetual hedge positions rather than off‑chain treasuries. The collateral basket auto‑rebalances between spot ETH, LSTs and short perps so the net delta remains near zero, turning staking rewards and funding rates into protocol revenue. USDe launched on Ethereum in January 2024 and surpassed $2 billion supply within five months, with deep secondary liquidity on Curve and Bybit.
View Full PageKey Metrics Comparison
Coinbase Bridge
TVL$7.863B
24h VolumeN/A
24h FeesN/A
24h RevenueN/A
30d FeesN/A
30d RevenueN/A
7d TVL ChangeN/A
Dominance2.83%
Ethena
TVL$4.712B
24h VolumeN/A
24h Fees$130
24h Revenue$130
30d Fees$15.95M
30d Revenue$21.1K
7d TVL Change+3.24%
Dominance1.69%
Category Performance
Visual comparison across key categories. Ring fill represents relative strength or share between the two assets.
TVL Share
Share of combined TVL
Coinbase Bridge
62.5%Ethena
37.5%Volume Share
Share of combined 24h volume
Coinbase Bridge
1.0%Ethena
1.0%Fees Share
Share of combined 24h fees
Coinbase Bridge
1.0%Ethena
1.0%Revenue Share
Share of combined 24h revenue
Coinbase Bridge
1.0%Ethena
1.0%7d TVL Performance
TVL change over last 7 days
Coinbase Bridge
N/AEthena
3.24%Dominance
Market dominance by TVL
Coinbase Bridge
2.8%Ethena
1.7%TVL Comparison
Coinbase Bridge
Ethena