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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

$161,071,467,898

Market Cap 0.3%

$24,854,522,658

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$1.00	$15,779,218,856	342	$110,420,094,812	5.9%
6	USDC USDC	Buy	$1.00	$4,204,961,209	356	$33,507,287,753	3.3%
25	Dai DAI	Buy	$0.9998	$487,940,135	257	$5,298,954,812	9.8%
26	First Digital USD FDUSD		$1.00	$4,158,682,198	15	$4,420,819,568	73.6%
54	Ethena USDe USDE		$0.9985	$54,820,222	7	$2,349,127,341	67.8%
125	USDD USDD		$0.9800	$4,027,781	19	$711,277,420	2.5%
135	Frax FRAX	Buy	$0.9988	$26,902,227	64	$648,456,140	0.1%
149	Tether Gold XAUT		$2,345.38	$9,487,179	27	$578,283,043	5.1%
164	TrueUSD TUSD		$1.00	$27,371,236	58	$510,231,982	3.1%
187	PAX Gold PAXG		$2,354.49	$7,393,343	39	$433,775,988	6.6%
232	PayPal USD PYUSD		$0.9982	$8,998,339	21	$302,360,109	60.8%
326	TerraClassicUSD USTC		$0.01944	$6,315,014	27	$174,100,994	34.0%
342	Alchemix USD ALUSD		$0.9712	$2,522,031	7	$162,525,850	2.4%
373	Pax Dollar USDP		$1.00	$9,382,292	28	$148,414,750	0.5%
398	STASIS EURO EURS		$1.07	$461,941	9	$132,844,547	1.0%
412	crvUSD CRVUSD		$0.9999	$14,405,879	11	$124,850,888	16.3%
447	Liquity USD LUSD		$0.9992	$3,069,643	27	$111,624,098	9.4%
489	Gemini Dollar GUSD		$1.00	$682,072	10	$95,789,270	27.5%
501	USDX USDX		$0.8187	$289,576	2	$91,685,202	7.7%
532	DOLA DOLA		$1.00	$3,083,331	18	$81,034,582	24.3%
580	BUSD BUSD	Buy	$1.00	$453,105	54	$70,573,403	16.6%
659	Magic Internet Money MIM		$0.9909	$386,152	39	$55,417,808	0.0%
690	sUSD SUSD		$0.9958	$1,166,506	12	$50,018,790	1.1%
698	GHO GHO		$0.9976	$1,981,100	4	$48,882,334	18.9%
699	Lista USD LISUSD		$0.9862	$413,890	9	$48,806,476	25.9%
717	Bean BEAN		$0.9899	$1,709.69	1	$45,964,710	1.3%
776	TOR TOR		$2.39	$0.00	5	$40,811,167	78.5%
798	XSGD XSGD		$0.7329	$13,885,104	12	$38,721,171	1.7%
800	Euro Tether EURT		$1.06	$3,021,991	27	$38,587,844	1.1%
819	Celo Dollar CUSD		$0.9989	$3,864,097	12	$37,017,449	4.7%
829	flexUSD FLEXUSD		$0.2173	$0.2401	4	$36,104,289	35.5%
960	BiLira TRYB		$0.03040	$2,422.02	7	$27,336,669	47.2%
969	MAI MIMATIC		$0.9795	$47,000.08	12	$27,001,699	16.8%
1027	EURA EURA		$1.06	$551,023	17	$23,595,929	20.3%
1050	Verified USD USDV		$0.9999	$3,360,534	19	$22,424,736	10.9%
1160	Prisma mkUSD MKUSD		$0.9862	$583,842	3	$17,874,963	46.2%
1206	dForce USD USX		$1.02	$20,232.13	15	$16,476,866	52.6%
1243	Fei USD FEI		$0.9926	$8,105.25	3	$15,353,180	1.2%
1299	GYEN GYEN		$0.006322	$6,351.62	6	$13,695,984	6.2%
1305	HUSD HUSD		$0.07208	$15,840.83	4	$13,533,619	10.1%
1361	YUSD Stablecoin YUSD		$0.9947	$24.67	2	$11,827,813	-
1438	eUSD EUSD		$0.9662	$2,854.95	1	$10,094,431	52.8%
1517	Origin Dollar OUSD		$0.9975	$283,192	5	$8,516,334	21.1%
1602	USK USK		$0.9993	$120,881	3	$7,336,882	14.5%
1618	Celo Euro CEUR		$1.07	$572,502	6	$7,166,107	26.0%
1788	Vai VAI		$1.00	$133,116	6	$5,084,301	32.7%
1881	Silk SILK		$1.14	$174,963	2	$4,360,128	0.6%
1934	Djed DJED		$0.9821	$73,173.93	3	$3,947,268	0.4%
2031	mStable USD MUSD		$0.9960	$79.68	3	$3,212,070	4.2%
2113	CNH Tether CNHT		$0.1361	$304.64	1	$2,786,511	2.1%
2129	Equilibrium EOSDT EOSDT		$0.5002	$0.2001	2	$2,697,390	-
2203	VNX EURO VEUR		$1.07	$20,081.35	10	$2,367,801	1.6%
2211	eUSD (OLD) EUSD		$0.9364	$12.52	1	$2,322,855	39.4%
2238	Parallel PAR		$0.9828	$38,804.65	10	$2,204,453	6.2%
2630	Sperax USD USDS		$0.9975	$10,241.70	2	$1,137,540	1.2%
2732	sEUR SEUR		$1.06	$542.52	1	$950,813	-
2742	Convertible JPY Token CJPY		$0.005563	$27,032.79	2	$934,574	-
2751	SpiceUSD USDS		$0.1111	$10.47	5	$922,228	13.9%
3002	Zasset zUSD ZUSD		$0.9314	$23.29	2	$576,273	20.9%
3119	XIDR XIDR		$0.00006157	$43,289.63	3	$465,509	2.2%
3273	BOB BOB		$1.00	$26,291.83	9	$342,190	0.1%
3635	Basis Cash BAC		$0.002769	$34,926.02	2	$151,628	27.5%
3670	One Cash ONC		$0.09396	$17,779.96	2	$143,939	16.9%
3704	poundtoken GBPT		$1.25	$35,137.35	3	$132,804	0.6%
4081	Coin98 Dollar CUSD		$0.7878	$184.72	5	$36,062.58	10.8%
4231	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4288	Vesta Stable VST		$1.00	$58.99	2	$1,722.18	98.9%
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.9060	$169,121	3	-	0.0%
	USDS Classic USDS		-	$0.7488	1	-	-
	XDAI XDAI		$1.00000	$73,549.74	7	-	0.0%
	bDollar BDO		$0.02115	$341.40	2	-	0.0%
	CAD Coin CADC		$0.7548	$734.56	3	-	0.0%
	Iron IRON		$0.0002642	$2.81	3	-	0.0%
	Wrapped USTC USTC		$0.02120	$6,277.42	17	-	0.0%
	Jarvis Synthetic Euro JEUR		$0.9794	$768.63	8	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$1.04	$562.32	5	-	0.0%
	xDollar Stablecoin XUSD		$1.05	$12.02	4	-	0.0%
	Iron BSC IRON		$0.01347	$2.34	1	-	-
	Synth oUSD OUSD		$0.9905	$44.37	0	-	-
	JPY Coin v1 JPYC		$0.007868	$13.51	6	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4741	$564.72	2	-	-
	Monerium EUR emoney EURE		$1.07	$378,096	7	-	0.0%
	Decentralized USD DUSD		$0.4738	$28,166.23	1	-	0.0%
	JPY Coin JPYC		$0.006212	$20,500.93	9	-	0.0%
	Klaytn Dai KDAI		$0.2231	$154.90	3	-	0.0%
	Utopia USD UUSD		$0.9991	$42,348.23	2	-	0.0%
	TrueCNH TCNH		$0.1199	$10.10	2	-	-
	Fathom Dollar FXD		$1.00	$324,088	3	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$1.00	$6,539,663	53	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9871	$2,033.06	3	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$1.00	$5,532,087	34	-	0.0%
	Solv Protocol stUSD STUSD		$1.04	$41.87	2	-	-
	Staked FRAX SFRAX		$1.04	$4,421.04	4	-	0.0%
	Bridged USDC (Lightlink) USDC.E		-	-	0	-	-
	Bridged Tether (Lightlink) USDT.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.