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Stablecoins by Market Capitalization

What is a stablecoin? Stablecoin is a cryptocurrency that is designed to minimize volatility by pegging to a more stable asset. Fiat currency digital asset is the most popular use case for stablecoins. It typically tracks popular national currencies such as the US Dollar, Euro, and the British Pound. Benefit of this includes being able to take advantage of blockchain technology and peer-to-peer value transfer while not being exposed to high volatility such as bitcoin, ethereum, or other cryptocurrencies. Stablecoins are relatively new kind of technology and each of them comes with different implementations, liquidity, risks, and acceptance.

Stats

$160,653,450,169

Market Cap 0.0%

$49,971,212,315

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$0.9999	$37,114,281,064	346	$110,889,643,746	3.6%
6	USDC USDC	Buy	$0.9993	$5,257,130,699	366	$33,051,191,450	1.4%
25	Dai DAI	Buy	$0.9986	$611,966,710	264	$5,443,448,529	11.6%
30	First Digital USD FDUSD		$0.9982	$6,738,269,795	17	$3,809,203,733	8.8%
54	Ethena USDe USDE		$1.00	$29,019,958	8	$2,292,268,883	4.0%
122	USDD USDD		$0.9989	$1,748,099	20	$725,236,654	0.2%
129	Frax FRAX	Buy	$0.9978	$12,727,129	66	$647,544,989	0.0%
143	Tether Gold XAUT		$2,346.47	$9,471,753	27	$578,181,423	0.2%
157	TrueUSD TUSD		$0.9972	$25,267,609	58	$509,113,352	2.9%
181	PAX Gold PAXG		$2,335.27	$9,237,972	39	$430,139,151	1.1%
197	PayPal USD PYUSD		$0.9977	$8,609,662	21	$377,141,781	97.3%
298	TerraClassicUSD USTC		$0.02242	$35,618,747	27	$199,247,052	17.6%
339	Alchemix USD ALUSD		$0.9645	$737,070	7	$161,441,047	1.5%
366	Pax Dollar USDP		$0.9984	$7,554,527	28	$143,188,084	3.0%
388	STASIS EURO EURS		$1.08	$1,222,945	10	$133,270,745	1.7%
396	crvUSD CRVUSD		$0.9995	$9,714,026	12	$127,592,746	12.4%
434	Liquity USD LUSD		$0.9973	$4,988,881	29	$110,872,433	5.2%
489	DOLA DOLA		$0.9990	$11,483,992	20	$96,373,490	39.1%
501	USDX USDX		$0.8240	$290,064	2	$91,584,668	7.0%
519	Gemini Dollar GUSD		$0.9983	$840,670	10	$85,388,793	30.2%
571	BUSD BUSD	Buy	$1.00	$310,607	54	$70,673,112	0.1%
635	Lista USD LISUSD		$0.9796	$722,179	10	$56,566,113	12.3%
645	Magic Internet Money MIM		$0.9827	$44,188.09	27	$55,417,808	0.0%
683	GHO GHO		$0.9983	$4,632,499	5	$51,483,332	14.9%
697	sUSD SUSD		$0.9839	$503,196	12	$49,646,174	4.1%
726	Bean BEAN		$0.9576	$47,066.29	1	$44,567,733	2.3%
782	Euro Tether EURT		$1.07	$3,050,276	27	$38,843,936	0.3%
795	TOR TOR		$2.17	$37,575.27	5	$37,035,791	88.3%
808	Celo Dollar CUSD		$0.9974	$5,969,094	12	$36,135,095	6.1%
823	flexUSD FLEXUSD		$0.2106	$0.8808	4	$35,027,748	38.8%
846	XSGD XSGD		$0.7337	$14,078,032	13	$33,242,547	15.8%
932	MAI MIMATIC		$0.9909	$161,807	12	$27,298,570	18.8%
1023	EURA EURA		$1.07	$529,263	18	$22,985,913	23.2%
1035	Verified USD USDV		$0.9974	$1,277,547	23	$22,426,066	14.6%
1083	BiLira TRYB		$0.03103	$2,125.81	7	$20,315,879	35.9%
1195	dForce USD USX		$1.01	$21,066.73	15	$16,220,604	47.9%
1214	Fei USD FEI		$1.00	$242.51	3	$15,531,360	1.0%
1221	Prisma mkUSD MKUSD		$0.9924	$852,560	3	$15,390,354	19.1%
1282	GYEN GYEN		$0.006427	$3,514.14	6	$13,764,870	6.8%
1355	YUSD Stablecoin YUSD		$0.9947	$56.64	2	$11,859,188	0.1%
1422	eUSD EUSD		$0.9592	$121,488	1	$10,322,334	35.1%
1512	HUSD HUSD		$0.04510	$141.07	4	$8,477,941	44.3%
1544	Origin Dollar OUSD		$0.9971	$223,695	5	$8,045,784	7.5%
1618	Celo Euro CEUR		$1.08	$2,528,099	6	$7,153,470	26.0%
1638	USK USK		$0.9969	$165,783	3	$6,895,918	15.9%
1824	Vai VAI		$0.9974	$61,690.10	6	$4,832,391	20.7%
1902	Silk SILK		$1.12	$159,654	2	$4,280,115	0.8%
1934	Djed DJED		$0.9998	$89,176.59	3	$4,028,146	0.0%
1990	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2054	mStable USD MUSD		$0.9816	$53.30	3	$3,136,597	5.8%
2106	CNH Tether CNHT		$0.1364	$377.11	1	$2,861,877	0.2%
2247	eUSD (OLD) EUSD		$0.9739	$202.79	1	$2,319,340	37.3%
2265	Parallel PAR		$0.9974	$11,913.31	10	$2,234,570	1.7%
2328	VNX EURO VEUR		$1.08	$70,392.53	10	$1,987,291	17.2%
2667	Sperax USD USDS		$0.9979	$9,137.79	2	$1,132,729	0.0%
2702	sEUR SEUR		$1.08	$10,457.22	1	$1,075,211	3.0%
2738	Convertible JPY Token CJPY		$0.005863	$2,420.70	2	$1,009,926	401.7%
2808	SpiceUSD USDS		$0.1069	$10.60	5	$895,415	8.2%
2855	USC USC		$0.9997	$4,775.56	1	$834,446	-
3029	Zasset zUSD ZUSD		$0.9840	$0.001912	2	$614,962	15.9%
3249	XIDR XIDR		$0.00006235	$45,544.93	3	$402,119	15.4%
3339	BOB BOB		$0.9993	$303.30	9	$341,650	0.1%
3697	Basis Cash BAC		$0.002880	$14,742.03	2	$157,029	30.6%
3763	One Cash ONC		$0.09015	$10,592.40	2	$138,038	18.1%
3778	poundtoken GBPT		$1.25	$34,467.05	3	$133,278	1.5%
4193	Coin98 Dollar CUSD		$0.6965	$25.67	5	$31,771.87	-
4323	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4383	Vesta Stable VST		$0.9994	$0.8690	3	$1,719.95	98.8%
	JPY Coin JPYC		$0.006332	$25,814.29	9	-	0.0%
	Decentralized USD DUSD		$0.4276	$48,842.00	1	-	0.0%
	Utopia USD UUSD		$0.9985	$45,634.36	2	-	0.0%
	TrueCNH TCNH		$0.1200	$49.99	2	-	-
	Monerium EUR emoney EURE		$1.07	$1,053,921	7	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4278	$217.27	2	-	-
	XDAI XDAI		$0.9999	$1,146,732	7	-	0.0%
	JPY Coin v1 JPYC		$0.007967	$5.28	6	-	0.0%
	Synth oUSD OUSD		$0.9905	$44.37	0	-	-
	Fathom Dollar FXD		$0.9998	$349,448	3	-	0.0%
	Iron BSC IRON		$0.01317	$1.39	1	-	-
	Binance-Peg BUSD BUSD	Buy	$1.00	$11,766,948	54	-	0.0%
	xDollar Stablecoin XUSD		$1.06	$3.33	4	-	-
	Jarvis Synthetic Swiss Franc JCHF		$0.9394	$245.73	6	-	0.0%
	Jarvis Synthetic Euro JEUR		$1.00	$18,091.26	8	-	0.0%
	bDollar BDO		$0.02098	$523.16	2	-	0.0%
	Klaytn Dai KDAI		$0.2096	$4,902.94	3	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$0.9993	$30,408,275	35	-	0.0%
	Iron IRON		$0.0002946	$38.58	3	-	-
	Solv Protocol stUSD STUSD		$1.04	$41.87	2	-	-
	CAD Coin CADC		$0.7239	$566.25	3	-	-
	Staked FRAX SFRAX		$1.04	$128,454	5	-	0.0%
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.8971	$166,810	3	-	0.0%
	Magic Internet Money (Optimism) MIM		$0.9852	$1,306.47	3	-	-
	Magic Internet Money (Polygon) MIM		$0.9817	$9.81	1	-	-
	Zephyr Protocol Stable Dollar ZSD		$0.9884	$1,618.27	3	-	0.0%
	Wrapped USTC USTC		$0.02262	$54,321.51	17	-	0.0%
	Bridged Tether (Lightlink) USDT.E		-	-	0	-	-
	Bridged USDC (Lightlink) USDC.E		-	-	0	-	-
	Magic Internet Money (Kava) MIM		-	-	1	-	-
	Magic Internet Money (Base) MIM		-	-	0	-	-
	Magic Internet Money (Blast) MIM		-	-	0	-	-

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Frequently Asked Questions Show

What are Stablecoins

Stablecoins are a type of cryptocurrency pegged to a reference asset like fiat money, or other commodities like gold. Stablecoins minimize the volatility of the crypto space by maintaining their pegs. There are four major types of stablecoins: fiat-backed stablecoins, crypto-collateralized stablecoins, commodity-backed stablecoins, and algorithmic stablecoins.

Centralized Stablecoins

Fiat-backed stablecoins, like USDT and USDC, are issued by a central entity and backed by reserves that are equal or greater than their tokens in circulation. However, the reserve breakdown between USDT and USDC is quite different. In the case of USDT, this includes secured loans, corporate bonds, funds and precious metals in addition to cash and cash equivalents. On the other hand, USDC is only backed by U.S. Treasury Securities and cash deposits. Commodity-collateralized stablecoins are similar to fiat-backed stablecoins, except that they are backed by other physical assets like precious metals, oils, or real estate.

Decentralized Stablecoins

Unlike centralized stablecoins, which are issued by a central entity, decentralized stablecoins run on smart contracts, with governance input from a designated community (the DAO). DAI by MakerDao is an example of a decentralized stablecoin, and it is collateralized by other cryptocurrencies such as ETH. In order for DAI to maintain a stable price, users borrow against their locked collateral. Due to the volatility of cryptocurrencies, users must deposit collateral worth more than the value they intend to borrow, and this collateral can be liquidated by the protocol if the value decreases below a certain threshold.

Finally, there are algorithmic stablecoins. These rely on two tokens – a stablecoin and another cryptocurrency that serves as the backing of the stablecoin – and an algorithm (or smart contract) regulates the supply and demand so that the stablecoin can maintain its peg. This worked in the case of Terra’s UST and LUNA, until UST’s depeg in May 2022 resulted in arbitrageurs exchanging it for LUNA, which was then dumped on the open market, creating a freefall on both fronts.

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