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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

$161,134,204,281

Market Cap 0.6%

$40,470,768,695

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$0.9998	$30,650,725,018	342	$110,825,962,032	4.3%
6	USDC USDC	Buy	$1.00	$5,083,794,616	357	$33,603,423,850	1.7%
25	Dai DAI	Buy	$0.9995	$643,265,636	258	$5,434,895,554	9.0%
30	First Digital USD FDUSD		$1.00	$3,882,415,986	16	$3,859,603,280	32.9%
54	Ethena USDe USDE		$0.9998	$49,739,369	7	$2,292,328,356	14.6%
124	USDD USDD		$0.9960	$3,655,568	19	$732,375,947	1.0%
134	Frax FRAX	Buy	$0.9994	$15,306,543	64	$649,578,469	0.2%
149	Tether Gold XAUT		$2,308.08	$9,253,978	27	$569,323,922	0.9%
158	TrueUSD TUSD		$1.00	$26,724,509	58	$510,207,115	3.0%
186	PAX Gold PAXG		$2,288.33	$7,413,959	39	$422,791,660	1.7%
221	PayPal USD PYUSD		$0.9998	$10,609,172	21	$328,301,114	72.3%
325	TerraClassicUSD USTC		$0.01950	$5,882,442	27	$175,452,379	23.4%
343	Alchemix USD ALUSD		$0.9739	$23,435.96	7	$163,007,993	1.3%
366	Pax Dollar USDP		$1.00	$3,683,132	28	$148,677,640	0.6%
399	STASIS EURO EURS		$1.07	$851,177	9	$133,775,890	0.6%
405	crvUSD CRVUSD		$0.9997	$2,583,046	11	$128,262,302	12.2%
443	Liquity USD LUSD		$1.00	$1,431,767	27	$111,544,392	7.4%
502	Gemini Dollar GUSD		$0.9991	$755,196	10	$92,341,498	28.5%
503	USDX USDX		$0.8255	$322,094	2	$91,952,612	6.6%
517	DOLA DOLA		$1.00	$1,842,400	18	$86,037,330	24.2%
580	BUSD BUSD	Buy	$1.00	$319,671	54	$70,650,782	0.7%
658	Lista USD LISUSD		$0.9794	$556,818	9	$55,570,387	14.1%
660	Magic Internet Money MIM		$1.00	$134,734	39	$55,417,808	0.0%
684	GHO GHO		$0.9992	$1,106,845	4	$51,170,025	13.9%
688	sUSD SUSD		$0.9927	$1,113,654	12	$50,994,904	4.6%
731	Bean BEAN		$0.9848	$1,484.86	1	$45,742,010	-
782	TOR TOR		$2.57	$73,824.70	5	$40,147,131	15.4%
796	XSGD XSGD		$0.7408	$13,492,579	12	$38,999,411	1.3%
801	Euro Tether EURT		$1.06	$3,050,231	27	$38,629,645	0.6%
820	Celo Dollar CUSD		$0.9989	$4,378,046	12	$37,031,959	4.1%
832	flexUSD FLEXUSD		$0.2169	$35.23	4	$36,073,322	38.4%
925	BiLira TRYB		$0.03121	$1,103.10	7	$28,622,810	45.1%
960	MAI MIMATIC		$0.9797	$31,624.88	12	$26,955,658	15.2%
1031	EURA EURA		$1.07	$193,960	17	$23,209,677	23.5%
1050	Verified USD USDV		$1.00	$3,254,846	19	$22,496,846	14.5%
1208	dForce USD USX		$1.03	$20,545.38	15	$16,315,679	53.9%
1226	Prisma mkUSD MKUSD		$0.9874	$1,180,633	3	$15,686,015	22.8%
1243	Fei USD FEI		$0.9697	$2,403.69	3	$15,013,085	1.2%
1281	GYEN GYEN		$0.006465	$82,631.28	6	$14,011,423	3.4%
1355	YUSD Stablecoin YUSD		$0.9956	$46.32	2	$11,864,168	0.2%
1425	eUSD EUSD		$0.9586	$1,680.43	1	$10,325,758	35.6%
1437	HUSD HUSD		$0.05397	$1,048.39	4	$10,123,509	30.4%
1562	Origin Dollar OUSD		$0.9978	$229,794	5	$8,038,390	19.2%
1627	Celo Euro CEUR		$1.08	$536,482	6	$7,012,192	26.7%
1644	USK USK		$0.9997	$291,246	3	$6,841,713	18.0%
1740	Vai VAI		$0.9995	$58,622.47	6	$5,667,535	10.3%
1902	Silk SILK		$1.10	$1,233,784	2	$4,232,596	0.1%
1945	Djed DJED		$0.9834	$74,503.26	3	$3,949,420	1.1%
1984	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2040	mStable USD MUSD		$0.9813	$49.07	3	$3,203,108	2.4%
2102	CNH Tether CNHT		$0.1399	$388.03	1	$2,862,583	6.8%
2221	eUSD (OLD) EUSD		$0.9739	$2,240.99	1	$2,330,308	-
2240	Parallel PAR		$0.9996	$76,230.69	10	$2,242,812	2.3%
2247	VNX EURO VEUR		$1.08	$57,389.23	10	$2,215,510	8.2%
2640	SpiceUSD USDS		$0.1378	$65.53	5	$1,146,836	14.7%
2645	Sperax USD USDS		$0.9996	$19,681.49	2	$1,135,822	0.4%
2675	sEUR SEUR		$1.08	$852.69	1	$1,074,933	40.3%
2698	Convertible JPY Token CJPY		$0.005937	$1,642.55	2	$1,022,345	461.9%
2844	USC USC		$1.01	$3,001.12	1	$817,160	-
2987	Zasset zUSD ZUSD		$1.01	$54.43	2	$632,906	12.4%
3149	XIDR XIDR		$0.00006264	$41,681.72	3	$474,240	0.5%
3312	BOB BOB		$1.00	$9,845.68	9	$342,303	0.2%
3680	Basis Cash BAC		$0.002845	$8,816.96	2	$155,241	27.2%
3716	One Cash ONC		$0.09311	$17,465.35	2	$142,856	15.6%
3747	poundtoken GBPT		$1.25	$34,998.07	3	$133,590	4.3%
4162	Coin98 Dollar CUSD		$0.6943	$2.38	5	$31,657.68	3.4%
4290	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4347	Vesta Stable VST		$1.00	$0.4449	2	$1,721.75	-
	XDAI XDAI		$1.00000	$726,170	7	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$0.9475	$118.23	5	-	0.0%
	Jarvis Synthetic Euro JEUR		$0.9913	$474.17	8	-	0.0%
	Fathom Dollar FXD		$0.9993	$546,387	3	-	0.0%
	Wrapped USTC USTC		$0.06971	$16.95	17	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$1.00	$4,746,290	53	-	0.0%
	Iron IRON		$0.0002989	$4.43	3	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9935	$1,232.00	3	-	0.0%
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.9106	$169,977	3	-	0.0%
	Decentralized USD DUSD		$0.4353	$108,134	1	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4511	$1,008.18	2	-	0.0%
	JPY Coin JPYC		$0.006420	$11,340.06	9	-	0.0%
	Klaytn Dai KDAI		$0.2126	$3,625.91	3	-	0.0%
	JPY Coin v1 JPYC		$0.007871	$1.11	6	-	0.0%
	Utopia USD UUSD		$0.9999	$56,935.83	2	-	0.0%
	TrueCNH TCNH		$0.1234	$17.94	2	-	-
	Synth oUSD OUSD		$0.9905	$44.37	0	-	-
	bDollar BDO		$0.02086	$170.50	2	-	0.0%
	Iron BSC IRON		$0.01308	$0.2381	1	-	0.0%
	xDollar Stablecoin XUSD		$1.05	$11.63	4	-	0.0%
	Staked FRAX SFRAX		$1.05	$5,204.48	4	-	0.0%
	Monerium EUR emoney EURE		$1.08	$130,164	7	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$1.00	$32,284,887	34	-	0.0%
	CAD Coin CADC		$0.7454	$76.54	3	-	-
	Solv Protocol stUSD STUSD		$1.04	$41.87	2	-	-
	Bridged USDC (Lightlink) USDC.E		-	-	0	-	-
	Bridged Tether (Lightlink) USDT.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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