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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

$161,113,422,168

Market Cap 0.6%

$36,245,968,402

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$1.00	$24,890,742,584	342	$110,857,166,692	5.2%
6	USDC USDC	Buy	$1.00	$5,834,527,935	357	$33,575,784,061	2.1%
25	Dai DAI	Buy	$0.9993	$732,539,304	258	$5,418,937,804	9.7%
30	First Digital USD FDUSD		$0.9998	$4,543,717,117	16	$3,855,099,186	53.5%
55	Ethena USDe USDE		$0.9996	$52,990,601	7	$2,291,517,565	16.2%
124	USDD USDD		$0.9983	$1,163,575	19	$732,586,702	1.4%
134	Frax FRAX	Buy	$0.9990	$17,631,066	64	$648,729,649	0.2%
149	Tether Gold XAUT		$2,309.44	$9,632,443	27	$569,963,827	0.5%
158	TrueUSD TUSD		$1.00	$29,934,126	58	$509,865,669	3.0%
186	PAX Gold PAXG		$2,285.35	$7,793,883	39	$422,232,156	0.0%
221	PayPal USD PYUSD		$0.9998	$10,670,147	21	$327,997,740	72.3%
324	TerraClassicUSD USTC		$0.01975	$6,293,846	27	$176,794,505	22.1%
342	Alchemix USD ALUSD		$0.9739	$21,223.36	7	$162,964,564	1.5%
371	Pax Dollar USDP		$1.00	$3,852,351	28	$148,621,121	0.5%
396	STASIS EURO EURS		$1.08	$965,750	9	$133,469,974	0.6%
406	crvUSD CRVUSD		$0.9988	$11,092,043	11	$129,986,486	12.2%
444	Liquity USD LUSD		$1.00	$4,716,093	27	$111,208,419	7.7%
503	Gemini Dollar GUSD		$0.9989	$887,249	10	$92,280,822	28.3%
504	USDX USDX		$0.8212	$299,134	2	$91,495,043	6.4%
516	DOLA DOLA		$1.00	$2,185,623	18	$86,158,791	24.6%
582	BUSD BUSD	Buy	$0.9985	$332,355	54	$70,396,818	0.0%
657	Lista USD LISUSD		$0.9792	$572,563	9	$55,560,369	14.1%
660	Magic Internet Money MIM		$0.9911	$150,988	39	$55,417,808	0.0%
686	GHO GHO		$0.9988	$1,816,544	4	$51,176,437	14.0%
688	sUSD SUSD		$0.9932	$1,170,035	12	$50,924,555	6.1%
725	Bean BEAN		$0.9848	$1,484.86	1	$45,741,925	-
797	XSGD XSGD		$0.7414	$13,746,244	12	$39,035,436	1.2%
799	Euro Tether EURT		$1.06	$3,073,493	27	$38,486,146	1.2%
801	TOR TOR		$2.24	$18.15	5	$38,273,542	-
818	Celo Dollar CUSD		$0.9986	$4,720,560	12	$37,053,550	4.0%
829	flexUSD FLEXUSD		$0.2160	$35.09	4	$35,934,787	34.4%
931	BiLira TRYB		$0.03090	$1,082.60	7	$28,437,326	45.9%
956	MAI MIMATIC		$0.9795	$34,558.60	12	$26,998,852	15.1%
1033	EURA EURA		$1.06	$198,238	17	$23,258,623	20.9%
1050	Verified USD USDV		$0.9999	$2,787,177	19	$22,464,803	14.3%
1207	dForce USD USX		$1.02	$20,853.37	15	$16,348,442	53.8%
1224	Prisma mkUSD MKUSD		$0.9870	$1,245,399	3	$15,685,646	23.3%
1231	Fei USD FEI		$0.9988	$3,933.86	3	$15,446,758	2.2%
1282	GYEN GYEN		$0.006454	$92,394.62	6	$13,993,279	4.5%
1360	YUSD Stablecoin YUSD		$0.9951	$46.30	2	$11,858,041	0.1%
1421	eUSD EUSD		$0.9579	$1,679.22	1	$10,313,271	34.9%
1510	HUSD HUSD		$0.04658	$1,229.42	4	$8,748,790	37.8%
1562	Origin Dollar OUSD		$0.9978	$228,365	5	$8,047,326	19.2%
1626	Celo Euro CEUR		$1.08	$639,391	6	$7,016,442	26.7%
1649	USK USK		$1.00	$281,402	3	$6,841,132	20.4%
1743	Vai VAI		$0.9995	$60,746.13	6	$5,657,640	0.1%
1904	Silk SILK		$1.11	$648,691	2	$4,226,129	0.4%
1939	Djed DJED		$0.9830	$78,714.27	3	$3,948,954	0.6%
1981	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2038	mStable USD MUSD		$0.9971	$45.77	3	$3,185,595	1.9%
2100	CNH Tether CNHT		$0.1373	$417.89	1	$2,860,583	0.7%
2221	eUSD (OLD) EUSD		$0.9735	$2,240.03	1	$2,329,221	38.9%
2243	Parallel PAR		$1.00	$75,475.47	10	$2,241,900	5.3%
2250	VNX EURO VEUR		$1.08	$65,336.91	10	$2,213,688	8.0%
2650	Sperax USD USDS		$0.9971	$21,147.44	2	$1,132,847	0.4%
2681	sEUR SEUR		$1.08	$1,703.79	1	$1,073,946	37.9%
2703	Convertible JPY Token CJPY		$0.005948	$3,418.02	2	$1,024,068	526.9%
2791	SpiceUSD USDS		$0.1068	$9.88	5	$887,358	8.7%
2856	USC USC		$0.9920	$3,871.10	1	$804,508	-
2991	Zasset zUSD ZUSD		$1.00	$54.21	2	$633,136	2.7%
3143	XIDR XIDR		$0.00006263	$40,756.06	3	$474,598	0.3%
3310	BOB BOB		$1.00000	$21,354.46	9	$341,986	0.1%
3676	Basis Cash BAC		$0.002820	$8,863.96	2	$153,977	23.9%
3711	One Cash ONC		$0.09344	$19,796.42	2	$143,385	14.0%
3744	poundtoken GBPT		$1.25	$34,886.75	3	$133,178	6.5%
4160	Coin98 Dollar CUSD		$0.6952	$14.17	5	$31,709.57	30.5%
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		$0.006437	$15,667.37	9	-	0.0%
	bDollar BDO		$0.02087	$389.07	2	-	0.0%
	Utopia USD UUSD		$1.00	$56,519.83	2	-	0.0%
	TrueCNH TCNH		$0.1234	$17.94	2	-	-
	Wrapped USTC USTC		$0.02002	$6,076.14	17	-	0.0%
	Jarvis Synthetic Euro JEUR		$0.9897	$666.50	8	-	0.0%
	Decentralized USD DUSD		$0.4325	$109,534	1	-	0.0%
	JPY Coin v1 JPYC		$0.007841	$1.10	6	-	0.0%
	XDAI XDAI		$0.9991	$513,592	7	-	0.0%
	Iron IRON		$0.0002973	$6.49	3	-	0.0%
	Fathom Dollar FXD		$0.9997	$501,142	3	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$0.9461	$147.56	5	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$1.00	$10,961,597	53	-	0.0%
	Monerium EUR emoney EURE		$1.08	$137,473	7	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4520	$1,250.75	2	-	0.0%
	CAD Coin CADC		$0.7464	$804.02	3	-	-
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.9052	$168,969	3	-	0.0%
	Staked FRAX SFRAX		$1.05	$5,501.61	4	-	0.0%
	Klaytn Dai KDAI		$0.2132	$3,750.73	3	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9897	$1,219.38	3	-	0.0%
	xDollar Stablecoin XUSD		$1.06	$2.91	4	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$1.00	$39,620,247	34	-	0.0%
	Iron BSC IRON		$0.01303	$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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