GHO Stablecoin

$698M market cap

Issued by Aave · reviewed 29 October 2026

Market cap: $698M -0.01% 7d
30-day trend
Volume / market cap: 0.8%
Peg drift, 30 days: 0.18%

Market data as of 29 October 2026, the same daily snapshot the tracker publishes. Peg drift is the largest single-day distance from par over the last 30 days, for USD-pegged tokens only.

GHO is a decentralized, overcollateralized stablecoin by Aave, pegged to the U.S. Dollar and launched on Ethereum.

01

Instrument facts

Symbol	GHO
Peg	USD
Backing	Crypto backed
Status	Active
Launched	2023
Networks	L1 EVM Ethereum, Avalanche L2 Arbitrum, Base
Specifications	Backing Overcollateralized with crypto assets supplied to the Aave Protocol. Redemption GHO can be minted by supplying collateral and repaid with accrued interest, benefiting the Aave DAO treasury. KYC required No
Use cases	DeFi collateral, Trading
Depeg history	Date 2023-10-26 · Low price 0.946 · Cause Chaos Labs reported that GHO fell from about $0.962 to $0.946 after a liquidity drain from the principal Uniswap V3 GHO/USDC pool; it described this as the most substantial depeg observed since GHO's inception at that time.

02

Supply by chain

2 chains · $698M total

Chain	Supply
Ethereum	$693M
Monad	$5M

Chains holding at least $1M of this token, from the daily cross-chain compilation. The total may differ from the market capitalization above, which is a separate measurement.

03

Contract addresses

8 chains

Chain	Address
Arbitrum One	`0x7dff72693f6a4149b17e7c6314655f6a9f7c8b33`
Avalanche	`0xfc421ad3c883bf9e7c4f42de845c4e4405799e73`
Base	`0x6bb7a212910682dcfdbd5bcbb3e28fb4e8da10ee`
Ethereum	`0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f`
Ink	`0xfc421ad3c883bf9e7c4f42de845c4e4405799e73`
Monad	`0xfc421ad3c883bf9e7c4f42de845c4e4405799e73`
Plasma	`0xb77e872a68c62cfc0dfb02c067ecc3da23b4bbf3`
xDai	`0xfc421ad3c883bf9e7c4f42de845c4e4405799e73`

Addresses as recorded for this token. Verify against the issuer's own published address before sending funds.

Official site · Whitepaper

04

Background

GHO is a decentralized stablecoin native to the Aave Protocol, designed to maintain a stable value pegged to the U.S. Dollar.

Users mint GHO by supplying collateral to the Aave Protocol, ensuring the stablecoin is overcollateralized.

The collateral's value exceeds the amount of GHO issued, providing a buffer to maintain the stablecoin's peg.

05

Recent activity

2026-07-02 Adoption Aave brings V3 lending and GHO stablecoin to Monad cointelegraph.com
2023-10-26 Depeg Chaos Labs reported that GHO fell from about $0.962 to $0.946 after a liquidity drain from the principal Uniswap V3 GHO/USDC pool; it described this as the most substantial depeg observed since GHO's inception at that time. low $0.946
— Our coverage Stablecoin Recap Jun 29–Jul 6, 2026: Stablecoin Market Capitalization Declines by $2.3 Billion — Stablecoin Beat Weekly

06

Frequently asked questions

What is GHO Stablecoin?

GHO is a decentralized, overcollateralized stablecoin by Aave, pegged to the U.S. Dollar and launched on Ethereum.

How is GHO backed?

Overcollateralized with crypto assets supplied to the Aave Protocol.

Which networks carry GHO?

GHO is recorded on 4 networks, including Ethereum, Avalanche, Arbitrum, Base.

What is the market capitalization of GHO?

GHO has a market capitalization of $698M as of 29 October 2026.

Has GHO ever broken its peg?

The most recent recorded depeg for GHO occurred on 26 October 2023, when its price fell to $0.946.

07

Other US dollar stablecoins

Compiled from issuer disclosures, on-chain data and market data. Aave · Methodology