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.

2969816.853227164

Market Capitalization

1265971.3832123103

Trading Volume

Market Capitalization Market Dominance Trading Volume

All Stablecoins USD Stablecoin EUR Stablecoin CNY Stablecoin JPY Stablecoin GBP Stablecoin

#	Coin	Price	24h Volume	Exchanges	Market Capitalization	30d
1	Tether USDT	$1.00	$40,799,323,058	471	$90,314,402,984	5.2%
2	USDC USDC	$1.00	$9,473,618,260	430	$24,552,673,268	1.1%
3	Dai DAI	$0.999523	$271,547,957	236	$5,422,264,481	1.7%
4	TrueUSD TUSD	$0.998804	$186,721,983	58	$2,629,272,946	-21.0%
5	BUSD BUSD	$0.998596	$2,769,351,712	113	$1,504,297,999	-20.0%
6	First Digital USD FDUSD	$0.999957	$2,068,563,193	4	$1,069,956,730	57.2%
7	USDD USDD	$0.989191	$17,915,441	22	$717,659,402	-1.3%
8	Frax FRAX	$1.00	$19,655,096	46	$649,402,846	-3.3%
9	Tether Gold XAUT	$2,005.25	$6,427,095	23	$494,371,944	2.6%
10	PAX Gold PAXG	$1,987.00	$17,349,087	36	$452,603,798	-2.3%
11	Pax Dollar USDP	$0.999416	$4,704,454	28	$428,690,005	-7.2%
12	TerraClassicUSD USTC	$0.042258749919	$63,111,994	28	$378,902,411	249.3%
13	Liquity USD LUSD	$0.998011	$5,186,171	22	$190,325,859	-10.5%
14	Prisma mkUSD MKUSD	$0.998900	$4,307,012	1	$168,579,858	4944.1%
15	PayPal USD PYUSD	$0.999979	$2,975,319	18	$168,124,483	5.7%
16	Alchemix USD ALUSD	$0.991608	$20,610.89	3	$166,512,878	-0.1%
17	Gemini Dollar GUSD	$0.996707	$474,591	9	$147,716,428	-7.3%
18	STASIS EURO EURS	$1.08	$211,253	10	$133,423,254	0.8%
19	crvUSD CRVUSD	$1.00	$54,846,599	4	$122,689,459	-8.5%
20	eUSD EUSD	$0.995748	$162,236	1	$121,825,999	10.0%
21	sUSD SUSD	$1.00	$2,372,281	10	$49,617,872	46.3%
22	Magic Internet Money MIM	$0.997221	$481,626	29	$47,558,533	27.9%
23	Destablecoin HAY HAY	$0.999471	$994,423	7	$39,933,921	2.7%
24	Euro Tether EURT	$1.08	$1,818,655	25	$39,064,938	0.2%
25	Bean BEAN	$0.970117	-	2	$37,438,529	-
26	Celo Dollar CUSD	$0.998555	$146,619	12	$34,473,356	481.7%
27	GHO GHO	$0.983448	$127,017	4	$34,210,873	14.2%
28	DOLA DOLA	$0.998100	$1,471,838	11	$32,405,931	-1.2%
29	dForce USD USX	$0.991332	$8,280.81	12	$31,604,049	-2.0%
30	flexUSD FLEXUSD	$0.162263	$51.09	4	$26,956,133	8.9%
31	BiLira TRYB	$0.034064930721	$13,676.00	7	$25,309,726	-41.7%
32	XSGD XSGD	$0.745542	$8,682,744	15	$24,438,040	13.9%
33	MAI MIMATIC	$0.871876	$66,041.27	29	$24,029,619	17.2%
34	agEUR AGEUR	$1.08	$649,202	13	$19,977,123	-2.1%
35	ZUSD ZUSD	$0.996460	-	2	$18,705,911	-
36	Verified USD USDV	$0.999157	$1,752,149	9	$17,320,696
37	Celo Euro CEUR	$1.14	$87,589.73	5	$15,113,619	1.6%
38	Origin Dollar OUSD	$0.997424	$6,681,048	5	$14,721,071	-3.5%
39	GYEN GYEN	$0.006911231018	$94,610.36	5	$14,196,721	3.5%
40	Fei USD FEI	$0.999091	$94,200.86	4	$13,076,070	8.6%
41	YUSD Stablecoin YUSD	$1.00	$1,159.82	4	$12,387,748	1.3%
42	eUSD (OLD) EUSD	$1.04	-	2	$11,701,043	-
43	USDX USDX	$0.945578	$292,469	2	$11,180,173	0.0%
44	HUSD HUSD	$0.047710922968	$1,624.80	5	$8,947,474	-1.0%
45	Vai VAI	$1.00	$454,440	6	$4,176,366	3.0%
46	Djed DJED	$1.03	$1,574,759	3	$4,136,551	2.0%
47	USK USK	$1.00	$903,260	2	$3,983,015	42.7%
48	mStable USD MUSD	$0.999070	$8,409.64	3	$3,400,837	9.2%
49	CNH Tether CNHT	$0.139752	$358.15	1	$2,861,245
50	sEUR SEUR	$1.07	$16,586.90	1	$2,763,233	-17.6%
51	USDP Stablecoin USDP	$0.937788	$5,212.33	1	$2,466,426	-1.5%
52	Parallel PAR	$1.05	$2,331.28	6	$2,350,055	-3.0%
53	Equilibrium EOSDT EOSDT	$0.357179	$0.060006049156	3	$1,926,013	10.6%
54	R R	-	-	0	$1,762,295	-
55	poundtoken GBPT	$1.19	$63,170.49	3	$1,642,023	-0.6%
56	Vesta Stable VST	$1.01	$20.36	3	$1,183,383	-19.9%
57	Sperax USD USDS	$1.00	$92,531.70	2	$1,137,803	0.3%
58	VNX EURO VEUR	$1.08	$66,652.77	5	$831,036	54.6%
59	SpiceUSD USDS	$0.078668960050	$16.44	4	$652,917	-11.7%
60	Coin98 Dollar CUSD	$0.981106	$40.38	3	$592,242	-0.4%
61	Zasset zUSD ZUSD	$0.996486	$1,494.58	2	$577,421	59.8%
62	XIDR XIDR	$0.000064223894	$215,153	6	$486,516	-88.8%
63	USDK USDK	$0.914452	$1,514.78	4	$443,489	1.4%
64	BOB BOB	$0.999803	$690.20	14	$341,957	-0.2%
65	Convertible JPY Token CJPY	$0.006894033644	$689.40	1	$218,683	-4.8%
66	TOR TOR	$0.011044189067	-	4	$188,530	-
67	Basis Cash BAC	$0.003276988431	$31,179.57	2	$178,855	71.0%
68	One Cash ONC	$0.069157629307	$33,313.00	2	$106,027	21.1%
69	Statik STATIK	$0.830487	$0.000000000000	1	$89,099.09	0.0%
70	USD Balance USDB	$0.055937524688	$127.59	2	$10,846.55	18.8%
71	Utopia USD UUSD	$0.999923	$70,702.45	3	-	0%
72	TrueCNH TCNH	$0.128354	$1,501,908	1	-	0%
73	Wrapped USTC USTC	$0.042172057320	$132,342	10	-	0%
74	Iron IRON	$0.000125667024	-	1	-	-
75	CAD Coin CADC	$0.739731	$7.36	3	-	0%
76	bDollar BDO	$0.018337110713	$50.83	1	-	0%
77	XDAI XDAI	$0.997622	$118,333	1	-	0%
78	Binance-Peg BUSD BUSD	$0.999548	$34,435,005	44	-	0%
79	Qcash QC	$0.086400178463	-	0	-	-
80	Bridged USDC (Polygon PoS Bridge) USDC.E	$0.999748	$16,739,185	32	-
81	SORA Synthetic USD XSTUSD	$0.560905	$4,909.59	2	-	0%
82	JPY Coin v1 JPYC	$0.007860238242	$394.30	4	-	0%
83	Monerium EUR emoney EURE	$1.07	$49,000.28	5	-	0%
84	Synth oUSD OUSD	$0.990473	-	0	-	-
85	Decentralized USD DUSD	$0.102350	$406,620	1	-	0%
86	Iron BSC IRON	$0.009519153626	$3.07	1	-	0%
87	xDollar Stablecoin XUSD	$1.05	$31.47	3	-	0%
88	JPY Coin JPYC	$0.006754009824	$46,339.48	8	-	0%
89	Jarvis Synthetic Swiss Franc JCHF	$1.14	$3,231.86	3	-	0%
90	Jarvis Synthetic British Pound JGBP	$1.26	-	2	-	-
91	Klaytn Dai KDAI	$0.999738	$66,791.71	3	-	0%
92	Jarvis Synthetic Euro JEUR	$1.08	$4,351.36	7	-	0%
93	Stably USDS USDS	-	-	0	-	-
94	Bridged Dai (Lightlink) DAI.E	-	-	0	-	-
95	Bridged Tether (Lightlink) USDT.E	-	-	0	-	-
96	Bridged USDC (Lightlink) USDC.E	-	-	0	-	-

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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.