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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

$161,392,074,783

Market Cap 0.5%

$63,661,063,927

Trading Volume

All Stablecoins Stablecoin Protocol JPY Stablecoin IDR Stablecoin

#	Coin		Price	24h Volume	Exchanges	Market Cap	30d

3	Tether USDT	Buy	$0.9998	$49,445,838,864	348	$111,746,888,476	1.2%
7	USDC USDC	Buy	$1.00	$6,461,592,040	365	$32,453,043,198	3.1%
27	Dai DAI	Buy	$0.9995	$296,461,412	268	$5,327,405,275	0.4%
43	First Digital USD FDUSD		$1.00	$7,029,942,030	23	$3,047,558,857	31.4%
47	Ethena USDe USDE		$1.00	$123,757,448	8	$2,885,054,495	22.5%
127	USDD USDD		$0.9952	$5,889,824	21	$729,207,888	2.5%
145	Frax FRAX	Buy	$0.9983	$10,992,020	69	$647,725,100	0.3%
153	Tether Gold XAUT		$2,352.51	$10,602,898	28	$580,214,638	0.4%
170	TrueUSD TUSD		$0.9997	$34,005,265	58	$502,682,652	1.4%
194	PAX Gold PAXG		$2,354.91	$9,274,059	39	$432,100,043	0.9%
195	Gemini Dollar GUSD		$1.00	$1,414,643	11	$431,608,946	345.5%
203	USDB USDB		$1.00	$69,824,603	19	$406,527,880	0.0%
207	PayPal USD PYUSD		$0.9998	$8,588,741	21	$398,884,037	31.3%
354	Alchemix USD ALUSD		$0.9642	$96,414.88	7	$161,089,468	2.6%
363	TerraClassicUSD USTC		$0.02238	$9,260,036	27	$151,977,490	10.3%
375	Pax Dollar USDP		$1.00	$4,613,812	28	$145,818,487	2.0%
397	STASIS EURO EURS		$1.09	$1,141,314	10	$134,856,037	1.6%
420	crvUSD CRVUSD		$0.9986	$20,214,507	16	$122,413,813	0.8%
451	Liquity USD LUSD		$1.01	$1,181,421	31	$112,531,552	0.3%
505	DOLA DOLA		$0.9997	$1,027,950	23	$98,048,653	20.8%
522	USDX USDX		$0.8235	$285,643	2	$91,503,785	0.9%
588	BUSD BUSD	Buy	$1.00	$305,861	55	$70,386,079	0.6%
608	Lista USD LISUSD		$0.9981	$782,315	10	$66,569,890	36.0%
624	GHO GHO		$0.9997	$1,127,033	5	$62,826,611	28.6%
665	Magic Internet Money MIM		$0.9905	$693,671	23	$55,417,808	0.0%
697	Bean BEAN		$0.9761	$28,936.88	2	$49,149,132	6.9%
776	sUSD SUSD		$0.9988	$1,888,900	6	$41,186,260	17.6%
841	Celo Dollar CUSD		$1.00	$7,161,690	12	$35,711,755	3.8%
849	flexUSD FLEXUSD		$0.2126	$18.23	4	$35,186,481	2.1%
850	TOR TOR		$2.06	$39,065.78	5	$35,139,385	13.9%
852	XSGD XSGD		$0.7442	$7,511,150	13	$34,984,022	9.9%
857	Euro Tether EURT		$1.08	$3,269,468	27	$34,697,254	10.3%
959	MAI MIMATIC		$0.9868	$26,661.71	13	$27,142,469	0.7%
1046	EURA EURA		$1.08	$69,190.10	20	$23,191,401	1.5%
1056	BiLira TRYB		$0.03057	$9,671.58	7	$22,884,989	16.4%
1121	Gyroscope GYD GYD		$0.9996	$542,195	3	$20,194,749	0.8%
1148	Verified USD USDV		$0.9996	$4,102,040	24	$19,135,705	15.1%
1208	dForce USD USX		$1.07	$27,932.39	16	$17,013,317	3.9%
1267	Fei USD FEI		$0.9438	$35,647.35	3	$15,249,794	3.7%
1285	Prisma mkUSD MKUSD		$0.9886	$165,543	3	$14,835,173	18.6%
1335	GYEN GYEN		$0.006333	$17,339.14	6	$13,541,821	1.9%
1386	eUSD EUSD		$0.9083	$1,897.27	1	$12,166,725	-
1400	YUSD Stablecoin YUSD		$0.9943	$0.1906	2	$11,818,132	-
1565	HUSD HUSD		$0.04517	$0.00	4	$8,483,272	37.1%
1596	Origin Dollar OUSD		$0.9980	$120,257	5	$8,080,956	5.1%
1678	USK USK		$0.9964	$159,665	3	$7,042,810	4.2%
1720	Celo Euro CEUR		$1.09	$2,700,344	6	$6,548,637	9.0%
1860	Vai VAI		$1.00	$24,563.96	6	$4,908,028	2.7%
1951	Silk SILK		$1.12	$174,370	2	$4,270,890	2.4%
2010	Djed DJED		$0.9875	$36,252.23	3	$3,956,712	1.2%
2055	Equilibrium EOSDT EOSDT		$0.6660	$0.4595	2	$3,591,123	-
2152	mStable USD MUSD		$1.01	$50.72	3	$3,028,680	6.1%
2183	CNH Tether CNHT		$0.1402	$3,774.76	1	$2,863,407	0.3%
2311	eUSD (OLD) EUSD		$0.9804	$136.67	1	$2,332,095	-
2328	Parallel PAR		$1.01	$12,285.73	10	$2,264,427	3.0%
2385	VNX EURO VEUR		$1.08	$65,042.33	10	$2,069,412	13.0%
2735	Sperax USD USDS		$0.9986	$13,976.24	2	$1,129,044	0.4%
2758	sEUR SEUR		$1.09	$2,395.04	1	$1,080,811	-
2765	USC USC		$0.9958	$5,322.34	2	$1,070,266	27.4%
2776	Convertible JPY Token CJPY		$0.005927	$3,523.54	2	$1,040,581	15.6%
2884	SpiceUSD USDS		$0.1072	$14.08	5	$890,481	40.6%
3156	Zasset zUSD ZUSD		$0.9189	$1,644.20	2	$559,590	-
3243	XIDR XIDR		$0.00006211	$48,688.62	3	$471,617	1.1%
3402	BOB BOB		$1.00	$94.31	9	$342,017	0.2%
3803	Basis Cash BAC		$0.002788	$15,247.40	2	$152,413	3.1%
3811	poundtoken GBPT		$1.28	$22,473.85	3	$149,067	11.9%
3836	One Cash ONC		$0.09389	$21,440.64	2	$143,636	0.3%
4271	Coin98 Dollar CUSD		$0.7330	$11.43	5	$33,366.00	4.5%
4476	Vesta Stable VST		$0.9998	$8,489.88	3	$1,719.86	0.1%
	sUSD (Optimism) SUSD		$1.00	$4,980,963	7	-	-
	XDAI XDAI		$1.00	$346,267	7	-	0.0%
	bDollar BDO		$0.02099	$1,266.63	2	-	0.0%
	CAD Coin CADC		$0.7743	$6,070.01	3	-	-
	Iron IRON		$0.0002633	$162.97	3	-	0.0%
	Wrapped USTC USTC		$0.02241	$7,714.16	18	-	0.0%
	Jarvis Synthetic Euro JEUR		$1.01	$2,865.01	9	-	0.0%
	Jarvis Synthetic Swiss Franc JCHF		$1.05	$165.05	6	-	0.0%
	xDollar Stablecoin XUSD		$1.06	$12.14	4	-	0.0%
	Iron BSC IRON		$0.01367	$0.1605	1	-	0.0%
	Synth oUSD OUSD		$0.9905	$44.37	0	-	-
	JPY Coin v1 JPYC		$0.008505	$638.93	6	-	0.0%
	SORA Synthetic USD XSTUSD		$0.6037	$2,002.10	2	-	-
	Monerium EUR emoney EURE		$1.09	$247,671	8	-	0.0%
	Decentralized USD DUSD		$0.4136	$1,806,921	1	-	0.0%
	JPY Coin JPYC		$0.006396	$49,960.78	10	-	0.0%
	Klaytn Dai KDAI		$0.2146	$5,918.72	3	-	0.0%
	Utopia USD UUSD		$0.9997	$51,029.14	2	-	0.0%
	TrueCNH TCNH		$0.1199	$10.33	2	-	-
	Fathom Dollar FXD		$1.01	$565,992	3	-	0.0%
	Binance-Peg BUSD BUSD	Buy	$1.00	$7,883,779	56	-	0.0%
	Zephyr Protocol Stable Dollar ZSD		$0.9790	$1,366.28	3	-	0.0%
	Bridged USDC (Polygon PoS Bridge) USDC.E		$1.00	$67,607,277	35	-	0.0%
	Solv Protocol stUSD STUSD		$1.04	$41.87	2	-	-
	Staked FRAX SFRAX		$1.05	$12,694.42	5	-	0.0%
	Magic Internet Money (Avalanche) MIM		$0.9918	$51,115.54	4	-	-
	Magic Internet Money (Optimism) MIM		$0.9946	$16.01	4	-	-
	Magic Internet Money (Polygon) MIM		$0.9767	$1.10	1	-	-
	Magic Internet Money (Base) MIM		$0.9812	$0.8537	1	-	-
	Magic Internet Money (BSC) MIM		$0.9897	$145.69	3	-	-
	Fraxtal Bridged FRAX (Fraxtal) FRAX	Buy	$0.9674	$180,574	3	-	0.0%

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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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