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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

$161,051,324,472

Market Cap 0.6%

$40,216,057,103

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$1.00	$29,262,068,600	342	$110,786,137,736	4.3%
6	USDC USDC	Buy	$1.00	$6,184,070,306	357	$33,573,915,952	1.6%
24	Dai DAI	Buy	$0.9997	$614,091,842	258	$5,436,966,322	9.1%
30	First Digital USD FDUSD		$1.00	$3,945,846,894	16	$3,850,278,186	32.7%
54	Ethena USDe USDE		$1.00	$46,370,670	7	$2,291,008,657	14.5%
121	USDD USDD		$0.9995	$1,140,059	19	$733,764,146	1.0%
133	Frax FRAX	Buy	$0.9991	$16,269,744	64	$648,597,236	0.1%
148	Tether Gold XAUT		$2,308.65	$8,850,810	27	$568,689,221	0.7%
158	TrueUSD TUSD		$1.00	$28,037,244	58	$509,881,032	2.9%
183	PAX Gold PAXG		$2,283.34	$7,349,531	39	$421,314,143	1.2%
219	PayPal USD PYUSD		$1.00	$11,429,163	21	$327,909,201	72.0%
327	TerraClassicUSD USTC		$0.01920	$5,777,916	27	$171,666,911	25.3%
338	Alchemix USD ALUSD		$0.9718	$40,743.20	7	$162,519,452	1.6%
366	Pax Dollar USDP		$1.00	$3,830,967	28	$148,513,018	0.4%
396	STASIS EURO EURS		$1.08	$814,939	9	$133,414,154	0.8%
405	crvUSD CRVUSD		$1.00	$2,414,092	11	$128,324,596	12.2%
444	Liquity USD LUSD		$1.00	$4,051,557	27	$111,225,558	7.8%
497	Gemini Dollar GUSD		$1.00	$342,227	10	$92,283,704	28.6%
500	USDX USDX		$0.8255	$326,064	2	$91,790,129	6.6%
513	DOLA DOLA		$1.00	$1,995,497	18	$86,146,210	24.2%
575	BUSD BUSD	Buy	$1.00	$319,956	54	$70,646,892	1.3%
656	Lista USD LISUSD		$0.9806	$583,004	9	$55,578,877	14.1%
657	Magic Internet Money MIM		$0.9936	$96,996.98	39	$55,417,808	0.0%
679	GHO GHO		$0.9990	$1,705,564	4	$51,140,967	13.8%
683	sUSD SUSD		$0.9942	$1,120,033	12	$50,889,909	4.3%
727	Bean BEAN		$0.9864	$1,243.48	1	$45,818,162	4.2%
742	TOR TOR		$2.57	$86,141.98	5	$43,851,223	7.5%
792	XSGD XSGD		$0.7440	$12,966,669	12	$39,098,475	1.3%
797	Euro Tether EURT		$1.06	$2,980,818	27	$38,498,002	0.7%
814	Celo Dollar CUSD		$1.00000	$4,758,982	12	$37,048,754	4.1%
829	flexUSD FLEXUSD		$0.2168	$3.32	4	$35,993,553	38.3%
923	BiLira TRYB		$0.03087	$1,104.59	7	$28,392,154	45.8%
952	MAI MIMATIC		$0.9777	$28,518.33	12	$26,962,765	15.1%
1025	EURA EURA		$1.06	$88,133.82	17	$23,180,044	23.3%
1044	Verified USD USDV		$1.00	$3,313,837	19	$22,460,807	14.6%
1210	dForce USD USX		$1.01	$23,792.75	15	$16,038,798	53.8%
1218	Prisma mkUSD MKUSD		$0.9886	$294,702	3	$15,770,470	22.4%
1233	Fei USD FEI		$0.9824	$3,127.24	3	$15,168,668	2.4%
1276	GYEN GYEN		$0.006494	$34,404.43	6	$14,034,012	3.2%
1352	YUSD Stablecoin YUSD		$0.9956	$46.32	2	$11,864,168	0.2%
1417	eUSD EUSD		$0.9586	$1,680.43	1	$10,324,787	35.6%
1437	HUSD HUSD		$0.05274	$1,200.96	4	$9,939,862	31.7%
1558	Origin Dollar OUSD		$0.9978	$233,955	5	$8,037,304	19.2%
1624	Celo Euro CEUR		$1.08	$692,060	6	$7,017,574	26.6%
1648	USK USK		$0.9988	$422,782	3	$6,818,153	18.3%
1735	Vai VAI		$1.00	$60,686.77	6	$5,656,364	10.1%
1900	Silk SILK		$1.10	$2,132,371	2	$4,220,599	1.1%
1941	Djed DJED		$0.9784	$81,799.57	3	$3,927,439	1.2%
1984	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2054	mStable USD MUSD		$0.9718	$3.36	3	$3,102,188	0.7%
2097	CNH Tether CNHT		$0.1398	$389.00	1	$2,867,986	6.9%
2219	eUSD (OLD) EUSD		$0.9739	$2,240.99	1	$2,330,308	-
2239	Parallel PAR		$1.00	$76,352.56	10	$2,240,196	2.5%
2244	VNX EURO VEUR		$1.08	$59,651.95	10	$2,215,220	8.2%
2644	Sperax USD USDS		$1.00	$24,638.00	2	$1,134,920	0.3%
2673	sEUR SEUR		$1.08	$852.44	1	$1,074,620	40.3%
2700	Convertible JPY Token CJPY		$0.005912	$1,635.44	2	$1,017,859	459.6%
2784	SpiceUSD USDS		$0.1065	$3.94	5	$883,013	11.5%
2852	USC USC		$0.9994	$2,975.96	1	$808,145	-
2993	Zasset zUSD ZUSD		$1.00	$54.08	2	$630,749	12.7%
3138	XIDR XIDR		$0.00006266	$41,593.50	3	$474,058	0.5%
3305	BOB BOB		$1.00	$12,060.97	9	$342,454	0.2%
3688	Basis Cash BAC		$0.002775	$10,065.27	2	$151,507	28.9%
3722	One Cash ONC		$0.09262	$15,120.44	2	$141,496	16.4%
3747	poundtoken GBPT		$1.25	$34,951.70	3	$133,194	4.1%
4163	Coin98 Dollar CUSD		$0.6954	$2.84	5	$31,523.77	2.9%
4288	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4347	Vesta Stable VST		$1.00	$5.11	2	$1,723.13	98.9%
	bDollar BDO		$0.02077	$269.05	2	-	0.0%
	XDAI XDAI		$1.00	$387,346	7	-	0.0%
	Iron BSC IRON		$0.01309	$0.2637	1	-	0.0%
	xDollar Stablecoin XUSD		$1.05	$10.49	4	-	0.0%
	Fathom Dollar FXD		$1.00	$531,182	3	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$0.9418	$126.37	5	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$1.00	$5,769,413	53	-	0.0%
	Jarvis Synthetic Euro JEUR		$0.9952	$468.16	8	-	0.0%
	Wrapped USTC USTC		$0.01961	$13,470.33	17	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9954	$1,314.63	3	-	0.0%
	Iron IRON		$0.0002969	$4.40	3	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$1.00	$31,486,740	34	-	0.0%
	CAD Coin CADC		$0.7361	$75.59	3	-	-
	Solv Protocol stUSD STUSD		$1.04	$41.87	2	-	-
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.9000	$167,348	3	-	0.0%
	Decentralized USD DUSD		$0.4348	$75,781.42	1	-	0.0%
	Monerium EUR emoney EURE		$1.08	$120,279	7	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4417	$823.71	2	-	0.0%
	JPY Coin JPYC		$0.006421	$8,633.03	9	-	0.0%
	Klaytn Dai KDAI		$0.2091	$3,316.47	3	-	0.0%
	Utopia USD UUSD		$0.9999	$54,639.53	2	-	0.0%
	TrueCNH TCNH		$0.1234	$17.94	2	-	-
	JPY Coin v1 JPYC		$0.007906	$1.11	6	-	0.0%
	Synth oUSD OUSD		$0.9905	$44.37	0	-	-
	Staked FRAX SFRAX		$1.10	$643.02	4	-	0.0%
	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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