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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

$160,948,425,645

Market Cap 0.5%

$49,059,005,442

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$1.00	$37,268,546,688	342	$110,733,778,344	5.2%
6	USDC USDC	Buy	$0.9994	$6,091,959,431	357	$33,554,738,121	2.0%
25	Dai DAI	Buy	$1.00000	$781,997,351	258	$5,400,688,129	9.3%
30	First Digital USD FDUSD		$0.9975	$4,657,378,889	16	$3,849,896,937	53.6%
54	Ethena USDe USDE		$0.9975	$65,889,780	7	$2,288,144,702	16.2%
124	USDD USDD		$0.9971	$3,931,884	19	$733,627,955	1.3%
135	Frax FRAX	Buy	$0.9976	$16,312,352	64	$647,998,685	0.2%
148	Tether Gold XAUT		$2,300.03	$9,925,460	27	$567,074,315	0.2%
160	TrueUSD TUSD		$0.9992	$32,741,580	58	$509,481,978	2.9%
186	PAX Gold PAXG		$2,279.12	$7,916,867	39	$421,351,362	0.1%
221	PayPal USD PYUSD		$0.9991	$12,700,666	21	$327,961,533	72.4%
323	TerraClassicUSD USTC		$0.01974	$7,503,329	27	$176,886,506	21.9%
341	Alchemix USD ALUSD		$0.9741	$22,429.92	7	$162,850,864	1.3%
370	Pax Dollar USDP		$1.00	$4,355,522	28	$148,542,863	0.5%
397	STASIS EURO EURS		$1.08	$993,892	9	$133,593,004	0.7%
403	crvUSD CRVUSD		$0.9985	$15,206,166	11	$129,800,660	12.2%
447	Liquity USD LUSD		$0.9977	$4,546,754	27	$111,024,289	7.8%
503	Gemini Dollar GUSD		$0.9990	$1,364,591	10	$92,243,350	28.3%
505	USDX USDX		$0.8286	$298,766	2	$91,703,521	6.5%
517	DOLA DOLA		$1.00	$2,633,952	18	$86,091,383	24.4%
577	BUSD BUSD	Buy	$0.9981	$319,166	54	$70,600,112	0.1%
658	Magic Internet Money MIM		$0.9908	$77,272.54	39	$55,417,808	0.0%
685	GHO GHO		$0.9985	$2,089,751	4	$51,242,030	14.2%
687	Lista USD LISUSD		$0.9865	$96,848.07	9	$51,038,723	21.0%
689	sUSD SUSD		$0.9919	$1,260,265	12	$50,847,299	6.1%
726	Bean BEAN		$0.9848	$1,484.86	1	$45,741,850	-
798	XSGD XSGD		$0.7410	$14,487,523	12	$38,955,147	1.3%
800	Euro Tether EURT		$1.06	$3,219,173	27	$38,665,901	0.9%
802	TOR TOR		$2.24	$18.26	5	$38,273,542	-
819	Celo Dollar CUSD		$0.9987	$5,038,214	12	$37,035,616	3.9%
841	flexUSD FLEXUSD		$0.2114	$34.22	4	$35,172,413	35.6%
897	dForce USD USX		$0.9792	$4,487.72	15	$30,503,665	10.8%
926	BiLira TRYB		$0.03136	$767.81	7	$28,861,283	46.4%
960	MAI MIMATIC		$0.9809	$32,426.08	12	$27,039,503	15.3%
1033	EURA EURA		$1.07	$282,582	17	$23,283,595	21.7%
1049	Verified USD USDV		$0.9994	$2,941,513	19	$22,461,798	14.3%
1229	Prisma mkUSD MKUSD		$0.9852	$1,467,946	3	$15,684,789	23.3%
1236	Fei USD FEI		$0.9993	$4,075.73	3	$15,453,647	2.5%
1285	GYEN GYEN		$0.006461	$97,089.30	6	$13,980,288	4.5%
1361	YUSD Stablecoin YUSD		$0.9955	$46.32	2	$11,862,374	0.1%
1424	eUSD EUSD		$0.9588	$8,171.81	1	$10,325,166	34.9%
1455	HUSD HUSD		$0.05100	$1,689.81	4	$9,581,372	31.8%
1563	Origin Dollar OUSD		$0.9975	$226,436	5	$8,038,819	19.2%
1629	Celo Euro CEUR		$1.07	$662,783	6	$7,014,641	26.7%
1649	USK USK		$0.9976	$229,580	3	$6,827,380	20.4%
1742	Vai VAI		$0.9994	$94,328.29	6	$5,595,355	1.1%
1904	Silk SILK		$1.11	$261,298	2	$4,234,384	0.8%
1939	Djed DJED		$0.9879	$81,455.05	3	$3,970,327	0.8%
1984	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2044	mStable USD MUSD		$0.9975	$45.79	3	$3,187,880	2.1%
2112	CNH Tether CNHT		$0.1395	$432.83	1	$2,819,838	0.5%
2220	eUSD (OLD) EUSD		$0.9737	$2,240.36	1	$2,329,876	38.8%
2242	Parallel PAR		$0.9990	$66,392.65	10	$2,240,636	5.2%
2251	VNX EURO VEUR		$1.08	$69,241.29	10	$2,215,106	7.8%
2647	Sperax USD USDS		$0.9984	$12,061.54	2	$1,135,373	0.2%
2681	sEUR SEUR		$1.08	$3,780.48	1	$1,073,824	37.9%
2702	Convertible JPY Token CJPY		$0.005952	$6,130.95	2	$1,024,802	527.4%
2786	SpiceUSD USDS		$0.1070	$12.10	5	$889,144	8.5%
2853	USC USC		$0.9932	$3,875.88	1	$810,453	-
2988	Zasset zUSD ZUSD		$1.01	$49.42	2	$638,274	2.5%
3145	XIDR XIDR		$0.00006262	$41,353.33	3	$474,121	0.3%
3313	BOB BOB		$0.9999	$25,194.11	9	$341,660	0.1%
3682	Basis Cash BAC		$0.002785	$10,649.40	2	$151,991	25.0%
3725	One Cash ONC		$0.08979	$22,818.51	2	$137,447	18.4%
3744	poundtoken GBPT		$1.25	$34,685.75	3	$133,181	6.5%
4162	Coin98 Dollar CUSD		$0.7012	$257.74	5	$31,835.76	30.2%
4289	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4347	Vesta Stable VST		$1.00	$0.4449	2	$1,721.75	98.9%
	JPY Coin JPYC		$0.006434	$17,250.88	9	-	0.0%
	bDollar BDO		$0.02097	$477.67	2	-	0.0%
	Utopia USD UUSD		$1.00	$58,466.04	2	-	0.0%
	TrueCNH TCNH		$0.1234	$17.94	2	-	-
	Wrapped USTC USTC		$0.01972	$4,813.63	17	-	0.0%
	Jarvis Synthetic Euro JEUR		$0.9877	$700.44	8	-	0.0%
	Decentralized USD DUSD		$0.4379	$146,158	1	-	0.0%
	JPY Coin v1 JPYC		$0.007813	$2.50	6	-	0.0%
	XDAI XDAI		$0.9983	$557,005	7	-	0.0%
	Iron IRON		$0.0002966	$9.42	3	-	0.0%
	Fathom Dollar FXD		$0.9989	$586,880	3	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$0.9396	$170.47	5	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$0.9998	$9,480,952	53	-	0.0%
	Monerium EUR emoney EURE		$1.08	$182,783	7	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4512	$1,151.45	2	-	0.0%
	CAD Coin CADC		$0.7480	$805.71	3	-	-
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.9066	$169,230	3	-	0.0%
	Staked FRAX SFRAX		$1.04	$31,823.53	4	-	0.0%
	Klaytn Dai KDAI		$0.2129	$3,156.61	3	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9954	$1,100.33	3	-	0.0%
	xDollar Stablecoin XUSD		$1.05	$9.09	4	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$0.9987	$28,250,360	34	-	0.0%
	Iron BSC IRON		$0.01302	$1.79	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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