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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

$160,792,921,968

Market Cap 0.1%

$48,958,014,205

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$1.00	$39,510,288,487	342	$110,924,547,723	3.8%
6	USDC USDC	Buy	$1.00	$6,386,464,017	358	$33,244,983,496	1.1%
26	Dai DAI	Buy	$0.9999	$597,444,708	258	$5,396,610,980	5.5%
30	First Digital USD FDUSD		$1.00	$2,195,219,123	16	$3,806,393,716	8.6%
55	Ethena USDe USDE		$1.00	$49,701,408	7	$2,293,580,873	12.5%
122	USDD USDD		$0.9953	$3,757,938	19	$730,278,393	1.1%
130	Frax FRAX	Buy	$0.9992	$15,830,846	64	$648,265,096	0.4%
145	Tether Gold XAUT		$2,316.77	$10,269,809	27	$570,605,565	0.9%
153	TrueUSD TUSD		$1.00	$25,829,752	58	$509,483,656	3.2%
179	PAX Gold PAXG		$2,288.40	$6,792,945	39	$421,932,366	0.2%
202	PayPal USD PYUSD		$1.00	$17,406,857	21	$352,912,759	84.5%
304	TerraClassicUSD USTC		$0.02101	$24,143,518	27	$187,627,057	18.4%
335	Alchemix USD ALUSD		$0.9719	$192,350	7	$162,374,062	1.3%
368	Pax Dollar USDP		$1.00	$5,636,182	28	$143,225,780	2.9%
389	STASIS EURO EURS		$1.08	$855,226	9	$133,361,681	1.0%
399	crvUSD CRVUSD		$0.9998	$7,735,962	12	$128,961,852	11.0%
442	Liquity USD LUSD		$0.9996	$2,361,856	27	$109,632,559	6.2%
496	USDX USDX		$0.8238	$297,149	2	$92,070,604	6.7%
499	DOLA DOLA		$1.00	$5,918,199	18	$90,612,865	31.3%
507	Gemini Dollar GUSD		$0.9993	$496,777	10	$86,386,395	33.2%
572	BUSD BUSD	Buy	$0.9977	$575,476	54	$70,156,150	0.7%
641	Lista USD LISUSD		$0.9821	$237,765	9	$56,069,548	13.5%
648	Magic Internet Money MIM		$0.9850	$89,153.65	30	$55,417,808	0.0%
679	GHO GHO		$0.9990	$5,885,425	4	$50,895,754	13.3%
690	sUSD SUSD		$0.9911	$4,718,872	12	$49,710,296	3.3%
731	Bean BEAN		$0.9496	$8,470.43	1	$44,150,796	-
777	TOR TOR		$2.28	$17.61	5	$38,956,315	-
783	Euro Tether EURT		$1.07	$3,098,150	27	$38,804,788	0.3%
804	XSGD XSGD		$0.7384	$14,245,270	12	$36,856,233	6.6%
808	flexUSD FLEXUSD		$0.2206	$16.18	4	$36,628,746	39.4%
812	Celo Dollar CUSD		$1.00	$2,721,834	12	$36,412,213	5.4%
941	MAI MIMATIC		$0.9874	$64,046.36	12	$27,198,536	16.6%
1026	EURA EURA		$1.07	$679,552	17	$23,146,470	23.3%
1041	Verified USD USDV		$1.00	$2,333,092	19	$22,447,067	14.4%
1104	BiLira TRYB		$0.03049	$1,318.90	7	$19,860,636	62.3%
1206	dForce USD USX		$1.00	$19,421.87	15	$16,103,244	52.9%
1232	Fei USD FEI		$0.9798	$39,287.22	3	$15,147,668	0.6%
1235	Prisma mkUSD MKUSD		$0.9908	$619,726	3	$15,085,453	25.0%
1278	GYEN GYEN		$0.006425	$19,242.54	6	$13,914,245	5.8%
1356	YUSD Stablecoin YUSD		$0.9945	$25.15	2	$11,850,233	0.1%
1383	HUSD HUSD		$0.05966	$520.37	4	$11,188,145	23.7%
1417	eUSD EUSD		$0.9647	$80,622.60	1	$10,394,370	35.3%
1555	Origin Dollar OUSD		$0.9977	$154,885	5	$8,036,106	18.1%
1628	Celo Euro CEUR		$1.08	$534,674	6	$6,996,652	26.9%
1631	USK USK		$0.9948	$393,702	3	$6,882,656	19.4%
1753	Vai VAI		$1.00	$118,964	6	$5,550,329	4.0%
1895	Silk SILK		$1.12	$186,326	2	$4,290,192	0.4%
1949	Djed DJED		$0.9795	$92,420.76	3	$3,933,931	2.2%
1985	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2040	mStable USD MUSD		$0.9980	$495.18	3	$3,187,964	0.1%
2099	CNH Tether CNHT		$0.1398	$369.43	1	$2,860,119	0.6%
2235	eUSD (OLD) EUSD		$0.9735	$536.84	1	$2,329,277	-
2247	Parallel PAR		$1.00	$18,122.93	10	$2,241,561	2.2%
2310	VNX EURO VEUR		$1.08	$77,814.33	10	$1,985,513	17.7%
2652	Sperax USD USDS		$1.00	$8,145.28	2	$1,138,259	0.1%
2692	sEUR SEUR		$1.08	$10,662.58	1	$1,073,107	-
2717	Convertible JPY Token CJPY		$0.005849	$3,293.03	2	$1,009,322	422.6%
2801	SpiceUSD USDS		$0.1053	$12.10	5	$874,747	13.8%
2850	USC USC		$0.9971	$6,593.98	1	$809,749	-
3005	Zasset zUSD ZUSD		$0.9882	$430.86	2	$617,784	16.4%
3150	XIDR XIDR		$0.00006217	$44,253.35	3	$470,665	1.1%
3320	BOB BOB		$1.00	$62.48	9	$341,962	0.2%
3717	Basis Cash BAC		$0.002657	$7,828.57	2	$144,785	35.6%
3744	One Cash ONC		$0.08998	$23,224.31	2	$137,708	15.3%
3759	poundtoken GBPT		$1.25	$34,647.38	3	$132,797	4.0%
4179	Coin98 Dollar CUSD		$0.6969	$31.43	5	$31,713.68	3.0%
4308	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4367	Vesta Stable VST		$0.9993	$263.89	2	$1,719.70	98.9%
	JPY Coin JPYC		$0.006347	$35,044.02	9	-	0.0%
	bDollar BDO		$0.02069	$655.59	2	-	0.0%
	Utopia USD UUSD		$0.9998	$42,722.13	2	-	0.0%
	TrueCNH TCNH		$0.1200	$49.99	2	-	-
	Wrapped USTC USTC		$0.02094	$68,667.72	17	-	0.0%
	Jarvis Synthetic Euro JEUR		$0.9980	$5,473.42	8	-	0.0%
	Decentralized USD DUSD		$0.4212	$83,479.73	1	-	0.0%
	JPY Coin v1 JPYC		$0.007904	$5.16	6	-	0.0%
	XDAI XDAI		$1.01	$488,526	7	-	0.0%
	Iron IRON		$0.0002994	$6.74	3	-	0.0%
	Fathom Dollar FXD		$1.00	$575,105	3	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$0.9405	$638.20	5	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$0.9999	$8,845,670	53	-	0.0%
	Monerium EUR emoney EURE		$1.08	$666,096	7	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4303	$453.80	2	-	0.0%
	CAD Coin CADC		$0.7103	$119.50	3	-	0.0%
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.8871	$165,581	3	-	0.0%
	Staked FRAX SFRAX		$1.04	$13,996.39	4	-	0.0%
	Klaytn Dai KDAI		$0.2041	$2,045.72	3	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9954	$3,185.49	3	-	0.0%
	xDollar Stablecoin XUSD		$1.05	$4.78	4	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$1.00	$43,478,045	34	-	0.0%
	Iron BSC IRON		$0.01303	$0.4528	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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