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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

$160,492,102,906

Market Cap 0.7%

$41,380,559,542

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$0.9986	$32,770,238,668	347	$110,692,500,359	3.3%
6	USDC USDC	Buy	$0.9999	$5,090,055,242	368	$33,059,586,693	3.0%
24	Dai DAI	Buy	$0.9981	$801,221,825	264	$5,446,006,380	6.4%
29	First Digital USD FDUSD		$0.9993	$2,461,517,762	17	$3,831,013,366	2.9%
52	Ethena USDe USDE		$1.00	$36,982,670	8	$2,306,494,491	3.2%
115	USDD USDD		$0.9964	$4,629,781	21	$733,422,018	1.2%
125	Frax FRAX	Buy	$0.9971	$11,079,637	67	$646,893,090	0.3%
135	Tether Gold XAUT		$2,355.07	$11,145,103	28	$580,582,180	0.3%
148	TrueUSD TUSD		$0.9987	$26,558,685	58	$509,043,877	0.0%
167	PAX Gold PAXG		$2,331.11	$5,469,991	39	$429,394,704	4.3%
191	PayPal USD PYUSD		$0.9985	$11,973,143	21	$377,429,433	95.6%
317	Alchemix USD ALUSD		$0.9611	$63,555.76	7	$160,736,855	0.3%
342	Pax Dollar USDP		$1.00	$5,247,515	28	$145,718,155	3.9%
341	TerraClassicUSD USTC		$0.02136	$14,311,796	27	$145,608,159	0.9%
362	STASIS EURO EURS		$1.08	$777,547	10	$134,189,660	0.3%
369	crvUSD CRVUSD		$0.9987	$17,430,448	13	$130,970,501	1.3%
411	Liquity USD LUSD		$0.9971	$4,900,095	31	$111,699,272	1.6%
457	DOLA DOLA		$0.9971	$4,057,321	21	$95,915,077	30.1%
477	USDX USDX		$0.8222	$299,574	2	$91,518,221	5.3%
508	Gemini Dollar GUSD		$0.9992	$759,278	10	$84,303,187	28.6%
551	BUSD BUSD	Buy	$0.9989	$395,775	54	$70,215,999	0.2%
616	Magic Internet Money MIM		$0.9924	$1,532,129	22	$55,417,808	0.0%
621	GHO GHO		$1.00	$11,677,620	5	$54,702,388	16.9%
674	sUSD SUSD		$0.9796	$6,297,377	12	$47,695,649	0.9%
694	Lista USD LISUSD		$0.9867	$1,325,366	10	$44,750,589	30.3%
708	Bean BEAN		$0.9384	$1,525.59	1	$43,630,445	8.0%
759	Euro Tether EURT		$1.07	$3,345,035	27	$38,845,297	3.2%
783	Celo Dollar CUSD		$0.9920	$6,080,017	12	$35,909,423	4.4%
795	XSGD XSGD		$0.7344	$15,159,378	13	$35,338,978	3.3%
800	TOR TOR		$2.06	$36,511.52	5	$35,127,587	1.7%
823	flexUSD FLEXUSD		$0.1998	$0.007930	4	$33,235,419	-
909	MAI MIMATIC		$0.9973	$184,285	12	$27,448,078	19.8%
976	EURA EURA		$1.07	$313,340	19	$23,284,381	29.6%
999	Verified USD USDV		$0.9975	$2,781,447	24	$22,487,876	14.4%
1046	BiLira TRYB		$0.03048	$1,632.81	7	$20,217,043	54.2%
1170	dForce USD USX		$0.9887	$18,825.82	15	$15,920,169	47.0%
1201	Fei USD FEI		$0.9651	$1,711.33	3	$14,968,108	2.6%
1216	Prisma mkUSD MKUSD		$0.9885	$708,972	3	$14,708,244	15.5%
1243	GYEN GYEN		$0.006362	$59,986.97	6	$13,758,878	4.9%
1326	YUSD Stablecoin YUSD		$0.9952	$4.15	2	$11,856,804	0.0%
1404	eUSD EUSD		$0.9382	$30,931.82	1	$10,270,793	5.4%
1497	HUSD HUSD		$0.04491	$146.02	4	$8,430,997	38.2%
1528	Origin Dollar OUSD		$0.9974	$123,302	5	$8,056,309	7.3%
1596	Celo Euro CEUR		$1.07	$1,426,349	6	$7,020,344	28.9%
1607	USK USK		$0.9981	$443,435	3	$6,913,106	5.9%
1804	Vai VAI		$0.9991	$273,161	6	$4,875,374	3.5%
1879	Silk SILK		$1.10	$99,671.94	2	$4,200,516	0.3%
1906	Djed DJED		$1.01	$60,262.01	3	$4,034,756	0.7%
1965	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2042	mStable USD MUSD		$0.9967	$119.29	3	$3,138,332	-
2102	CNH Tether CNHT		$0.1398	$350.74	1	$2,760,431	2.7%
2223	eUSD (OLD) EUSD		$0.9734	$202.68	1	$2,318,851	-
2239	Parallel PAR		$1.01	$1,106.65	10	$2,251,074	0.3%
2317	VNX EURO VEUR		$1.08	$71,679.59	10	$1,989,128	16.3%
2652	Sperax USD USDS		$0.9927	$83,364.46	2	$1,127,937	0.6%
2682	sEUR SEUR		$1.08	$551.50	1	$1,074,272	-
2731	Convertible JPY Token CJPY		$0.005721	$3,756.47	2	$985,458	456.7%
2810	SpiceUSD USDS		$0.1035	$14.86	5	$859,896	0.7%
2838	USC USC		$0.9925	$4,270.96	1	$816,568	-
3005	Zasset zUSD ZUSD		$0.9971	$41.09	2	$619,376	-
3161	XIDR XIDR		$0.00006208	$45,056.34	3	$469,974	0.0%
3323	BOB BOB		$0.9993	$217.70	9	$341,715	0.1%
3678	One Cash ONC		$0.1072	$2,044.67	2	$164,165	11.5%
3717	Basis Cash BAC		$0.002766	$12,886.31	2	$150,935	27.8%
3777	poundtoken GBPT		$1.25	$30,578.37	3	$133,343	4.5%
4180	Coin98 Dollar CUSD		$0.7344	$3.96	5	$33,510.92	39.4%
4341	USD Balance USDB		$0.05191	$31.79	2	$10,035.47	-
4401	Vesta Stable VST		$0.9977	$5.96	3	$1,716.52	0.1%
	XDAI XDAI		$1.00	$721,667	7	-	0.0%
	Wrapped USTC USTC		$0.02126	$19,831.96	18	-	0.0%
	Iron IRON		$0.0002926	$4.70	3	-	0.0%
	Fathom Dollar FXD		$1.00	$220,036	3	-	0.0%
	CAD Coin CADC		$0.7199	$699.03	3	-	-
	Binance-Peg BUSD BUSD	Buy	$0.9960	$5,618,778	54	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9681	$2,080.92	3	-	0.0%
	bDollar BDO		$0.02053	$703.94	2	-	0.0%
	SORA Synthetic USD XSTUSD		$0.4179	$188.06	2	-	0.0%
	Decentralized USD DUSD		$0.4138	$750,796	1	-	0.0%
	JPY Coin JPYC		$0.006339	$17,288.62	10	-	0.0%
	JPY Coin v1 JPYC		$0.007865	$28.20	6	-	0.0%
	Klaytn Dai KDAI		$0.1947	$1,423.27	3	-	0.0%
	Synth oUSD OUSD		$0.9905	$44.37	0	-	-
	Utopia USD UUSD		$0.9990	$43,573.25	2	-	0.0%
	TrueCNH TCNH		$0.1200	$49.99	2	-	-
	Iron BSC IRON		$0.01301	$0.03198	1	-	0.0%
	xDollar Stablecoin XUSD		$1.05	$5.79	4	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$0.9245	$108.82	6	-	0.0%
	Jarvis Synthetic Euro JEUR		$1.00	$843.37	8	-	0.0%
	Magic Internet Money (Avalanche) MIM		$0.9790	$47,548.18	3	-	-
	Magic Internet Money (Optimism) MIM		$0.9894	$404.05	4	-	-
	Magic Internet Money (Polygon) MIM		$0.9608	$3.58	1	-	-
	Magic Internet Money (Base) MIM		$0.9826	$40.60	1	-	-
	Magic Internet Money (BSC) MIM		$0.9928	$409.26	2	-	-
	Bridged USDC (Polygon PoS Bridge) USDC.E		$0.9997	$41,376,217	35	-	0.0%
	Monerium EUR emoney EURE		$1.08	$201,460	8	-	0.0%
	Solv Protocol stUSD STUSD		$1.04	$41.87	2	-	-
	Staked FRAX SFRAX		$1.04	$9,239.48	5	-	0.0%
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.8759	$172,131	3	-	0.0%
	Bridged USDC (Lightlink) USDC.E		-	-	0	-	-
	Magic Internet Money (Linea) MIM		-	-	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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