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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

$160,643,562,774

Market Cap 0.1%

$61,962,380,774

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$1.00	$46,041,894,851	342	$110,668,549,250	5.2%
6	USDC USDC	Buy	$1.00	$8,282,476,148	357	$33,393,871,168	1.6%
26	Dai DAI	Buy	$0.9993	$694,945,640	258	$5,339,086,544	8.0%
30	First Digital USD FDUSD		$0.9965	$6,664,860,222	16	$3,841,385,779	53.1%
53	Ethena USDe USDE		$0.9994	$57,141,049	7	$2,295,195,782	16.5%
123	USDD USDD		$0.9973	$4,925,886	19	$733,147,395	1.3%
133	Frax FRAX	Buy	$0.9992	$19,477,621	64	$648,255,567	0.3%
148	Tether Gold XAUT		$2,303.22	$3,450,459	27	$569,364,055	0.0%
157	TrueUSD TUSD		$0.9989	$38,575,645	58	$508,732,114	2.8%
185	PAX Gold PAXG		$2,285.67	$8,808,302	39	$421,542,822	0.0%
220	PayPal USD PYUSD		$0.9998	$11,827,391	21	$327,903,038	72.4%
321	TerraClassicUSD USTC		$0.01956	$9,745,753	27	$174,991,939	22.7%
335	Alchemix USD ALUSD		$0.9732	$154,429	7	$162,765,850	1.5%
368	Pax Dollar USDP		$1.00	$4,688,416	28	$148,626,407	0.6%
392	STASIS EURO EURS		$1.08	$2,375,693	9	$133,530,846	0.5%
403	crvUSD CRVUSD		$0.9993	$15,099,716	11	$129,549,146	12.4%
443	Liquity USD LUSD		$0.9999	$5,295,871	27	$111,075,478	7.9%
497	Gemini Dollar GUSD		$0.9997	$1,693,527	10	$92,230,397	28.3%
500	USDX USDX		$0.8203	$303,828	2	$91,626,068	7.0%
515	DOLA DOLA		$1.00	$2,881,036	18	$86,067,593	24.6%
575	BUSD BUSD	Buy	$0.9995	$394,299	54	$70,417,577	0.4%
658	Magic Internet Money MIM		$0.9906	$94,862.99	39	$55,417,808	0.0%
681	GHO GHO		$0.9987	$4,194,013	4	$51,085,458	13.8%
689	sUSD SUSD		$0.9927	$1,517,746	12	$50,450,938	5.3%
692	Lista USD LISUSD		$0.9858	$160,296	9	$50,180,612	22.4%
726	Bean BEAN		$0.9846	$1,484.60	1	$45,735,331	6.4%
795	XSGD XSGD		$0.7417	$11,618,196	12	$38,942,865	1.1%
797	Euro Tether EURT		$1.06	$3,645,650	27	$38,710,017	0.6%
799	TOR TOR		$2.24	$38.56	5	$38,273,542	16.1%
820	Celo Dollar CUSD		$0.9947	$5,019,229	12	$36,806,520	4.2%
834	flexUSD FLEXUSD		$0.2140	$64.91	4	$35,706,852	34.5%
922	BiLira TRYB		$0.03105	$778.40	7	$28,705,109	46.7%
954	MAI MIMATIC		$0.9761	$17,359.89	12	$27,013,014	15.1%
1027	EURA EURA		$1.07	$1,093,684	17	$23,342,981	21.3%
1046	Verified USD USDV		$1.00	$3,427,851	19	$22,433,415	14.5%
1210	dForce USD USX		$0.9992	$32,190.74	15	$16,090,136	52.8%
1215	Prisma mkUSD MKUSD		$0.9865	$734,806	3	$15,932,944	22.1%
1219	Fei USD FEI		$1.02	$5,392.25	3	$15,801,798	4.8%
1279	GYEN GYEN		$0.006487	$110,755	6	$14,039,559	4.2%
1352	YUSD Stablecoin YUSD		$0.9977	$3.54	2	$11,888,540	0.2%
1422	eUSD EUSD		$0.9573	$104,791	1	$10,311,824	35.0%
1433	HUSD HUSD		$0.05324	$1,085.18	4	$9,999,937	37.7%
1557	Origin Dollar OUSD		$0.9979	$217,375	5	$8,038,102	19.2%
1632	Celo Euro CEUR		$1.07	$811,911	6	$6,956,323	26.8%
1646	USK USK		$0.9956	$327,563	3	$6,792,395	20.6%
1744	Vai VAI		$1.00	$160,683	6	$5,604,030	0.8%
1894	Silk SILK		$1.11	$278,324	2	$4,239,791	1.3%
1937	Djed DJED		$0.9856	$101,700	3	$3,949,597	0.4%
1984	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2047	mStable USD MUSD		$0.9845	$127.95	3	$3,144,913	2.4%
2100	CNH Tether CNHT		$0.1398	$396.86	1	$2,858,156	0.9%
2216	eUSD (OLD) EUSD		$0.9788	$6,007.26	1	$2,342,000	38.5%
2239	Parallel PAR		$1.00	$71,699.85	10	$2,245,153	5.3%
2252	VNX EURO VEUR		$1.08	$80,856.32	10	$2,207,097	8.1%
2640	Sperax USD USDS		$1.00	$11,291.36	2	$1,136,441	0.5%
2681	sEUR SEUR		$1.08	$424,134	1	$1,073,426	37.8%
2702	Convertible JPY Token CJPY		$0.005947	$15,161.69	2	$1,024,595	527.5%
2810	SpiceUSD USDS		$0.1044	$16.72	5	$857,591	11.6%
2849	USC USC		$0.9981	$9,350.89	1	$814,113	-
2989	Zasset zUSD ZUSD		$1.01	$53.05	2	$631,508	3.6%
3142	XIDR XIDR		$0.00006262	$45,018.86	3	$474,468	0.3%
3312	BOB BOB		$1.00	$26,915.21	9	$341,225	0.1%
3706	Basis Cash BAC		$0.002649	$8,161.10	2	$144,639	28.7%
3732	One Cash ONC		$0.08824	$22,001.24	2	$135,256	20.1%
3744	poundtoken GBPT		$1.25	$35,538.16	3	$133,192	6.5%
4164	Coin98 Dollar CUSD		$0.6986	$273.20	5	$31,869.11	30.1%
4289	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4349	Vesta Stable VST		$0.9990	$3.79	2	$1,719.12	-
	JPY Coin JPYC		$0.006417	$40,105.02	9	-	0.0%
	bDollar BDO		$0.02083	$765.77	2	-	0.0%
	Utopia USD UUSD		$0.9998	$55,514.89	2	-	0.0%
	TrueCNH TCNH		$0.1234	$17.94	2	-	-
	Wrapped USTC USTC		$0.01997	$11,127.90	17	-	0.0%
	Jarvis Synthetic Euro JEUR		$0.9904	$1,355.57	8	-	0.0%
	Decentralized USD DUSD		$0.4355	$159,354	1	-	0.0%
	JPY Coin v1 JPYC		$0.007817	$2.50	6	-	0.0%
	XDAI XDAI		$1.00	$171,316	7	-	0.0%
	Iron IRON		$0.0002974	$267.08	3	-	0.0%
	Fathom Dollar FXD		$0.9992	$641,845	3	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$0.9400	$236.53	5	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$0.9986	$12,936,516	53	-	0.0%
	Monerium EUR emoney EURE		$1.08	$240,124	7	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4494	$419.54	2	-	0.0%
	CAD Coin CADC		$0.7408	$1,740.97	3	-	-
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.8921	$175,948	3	-	0.0%
	Staked FRAX SFRAX		$1.10	$6,680.93	4	-	0.0%
	Klaytn Dai KDAI		$0.2160	$6,332.50	3	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9949	$1,124.92	3	-	0.0%
	xDollar Stablecoin XUSD		$1.05	$7.57	4	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$1.00	$42,479,226	34	-	0.0%
	Iron BSC IRON		$0.01302	$1.84	1	-	0.0%
	Solv Protocol stUSD STUSD		$1.04	$41.87	2	-	-
	Synth oUSD OUSD		$0.9905	$44.37	0	-	-
	Bridged Tether (Lightlink) USDT.E		-	-	0	-	-
	Bridged USDC (Lightlink) USDC.E		-	-	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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