Overcollateralized with crypto assets supplied to the Aave Protocol.

Which blockchain networks support GHO?

GHO is available on Ethereum, Avalanche, Arbitrum, Base.

What is the GHO market cap?

The GHO market capitalization is approximately $598M as of 1 July 2026.

GHO Stablecoin (GHO) by Aave

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GHO GHO Stablecoin active Crypto Backed USD

Issued by Aave · Launched 2023

Market Cap $598M

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

90-day market cap↑ $584M → $598M

Key Data

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.
Peg Currency	USD
Launched	2023

Audit Report ↗

Supported Networks

L1 EVMEthereum Avalanche

L2Arbitrum Base

Cross-Chain Supply (DefiLlama · $598M total)

Ethereum

$598M 100.0%

Use Cases

Defi CollateralTrading

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.

Other USD Stablecoins

USDT · $184.5B USDC · $73.3B USDS · $10.0B DAI · $4.6B USD1 · $4.6B USDe · $4.4B

Profile compiled from issuer disclosures, regulatory filings, press releases, and financial media. Market and on-chain data sourced directly or via third-party providers. See methodology.