Mountain Protocol USD USDM

What USDM actually is on-chain

Mountain Protocol USD is an ERC-20 deployed on Ethereum, at contract address 0x59d9356e565ab3a36dd77763fc0d87feaf85508c. That address, not the ticker USDM, is what uniquely identifies this asset: anyone can deploy a second token calling itself USDM, but the contract is unforgeable. Verify it against etherscan.io before sending funds or approving a spend.

Because it lives on Ethereum, USDM is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in USDM itself, and secondary liquidity sits in Uniswap-style AMM pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

3 other assets tracked on this site also use the ticker USDM: MegaUSD (another network, 0xFAfD…79E7); Mento Dollar (another network, 0x765d…282a); USDM (Cardano). The asset on this page is specifically the Ethereum deployment at 0x59d9…508c. These are unrelated tokens with separate contracts, separate supply and separate price histories — a price alert set on one of them says nothing about the others, and a ticker search is not enough to tell them apart.

For USDM the project publishes a whitepaper and a public source repository. Both a written specification and readable code exist, which is a materially higher bar than most assets in this size range clear. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where USDM sits in the market

Mountain Protocol USD ranks #3054, in the upper long tail, past the point where most data providers stop publishing supply figures, far outside the set of assets that carry continuous market-maker coverage. At this end of the table the first question is data integrity rather than valuation: a quote can originate from a single pool or a single venue, reported volume is difficult to verify independently, and the distance between the last print and a genuinely executable price can be wide. Treat any indicator computed on this series as provisional.

We are not currently receiving a live USDM order book from any of the exchanges connected to this site, so no real-time quote is shown above. That is itself information: it usually means the pair is unlisted on the venues we track, or trading has been halted. USDM is a Ethereum asset, so whatever turnover exists is most likely in Uniswap-style AMM pools rather than on a centralised book, and every fill there costs ETH in gas on top of the pool's own fee.

USDM against its all-time high

Mountain Protocol USD's record high is $1.16, set on 2024-08-20. That high sits in a range where whole-cent and whole-unit levels are genuinely traded, which makes them usable as alert thresholds if a quote returns. It was set roughly 2 years ago, so it belongs to the current cycle but not to current conditions. We are not quoting a drawdown from it because no tracked venue is giving us a live USDM price — a stale or single-pool number would make that percentage look precise when it is not.

USDM across its historical range

The recorded range is comparatively narrow: 2.14x between $0.5425 and $1.16. Either the price history is short, or the asset is designed not to move.

The record low of $0.5425 was printed on 2024-08-14 — roughly 2 years ago. We have no live quote to measure the current distance from it.

USDM supply and valuation data

Supply figures for USDM are self-reported at this rank rather than reconciled against the chain, so we publish the valuation we have and not a circulating-supply number we cannot check. What we do have is a fully diluted valuation of $1.4 million as of 2026-05-12. That sits around the middle of the distribution — roughly half the assets tracked here carry a smaller fully diluted value.

Since the figure is a snapshot rather than a live number, we do not reverse it into a supply count: the price has moved since it was taken, and that division would produce a confident but incorrect token count. For any per-token valuation, check the current supply on the project's own explorer first. The authoritative figure is the one etherscan.io reports for this contract.

What kind of asset USDM is

Mountain Protocol USD is pegged to the US dollar, so the only price question that matters is whether the peg holds; trend and momentum readings on a dollar peg describe noise, not direction. It is backed by off-chain reserves, which moves the risk from smart-contract code to custody and disclosure: who holds the reserves, what they are held in, and how often that is attested. Those are the questions that decide whether the peg survives a redemption wave. It is small for a stablecoin, and at this size the peg depends heavily on one or two liquidity pools; thin-book depegs here say more about liquidity than about solvency.

CoinGecko files USDM under 9 categories, including Stablecoins, Polygon Ecosystem, Arbitrum Ecosystem, Ethereum Ecosystem, Optimism Ecosystem. CoinGecko also records deployments on Polygon (531 tracked tokens), Arbitrum (391 tracked tokens), Ethereum (3,072 tracked tokens), so on-chain liquidity is split across several networks and the cheapest venue depends on which deployment you are trading.

How to set a Mountain Protocol USD alert that is worth receiving

Mountain Protocol USD is the ERC-20 at 0x59d9…508c on Ethereum — high dated 2024-08-20 — rank #3054. On this profile the condition that carries signal is a peg-deviation band of roughly ±0.5% of par, with RSI ignored entirely.

Full alert-design method: thresholds, RSI/MACD and volume conditions →