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Top 10 Stablecoins Tokens by Market Capitalization


1.    Tether (USDT)
USDT is a stable coin (stable-value cryptocurrency) that mirrors the price of the U.S. dollar, issued by a Hong Kong-based company Tether. The token’s peg to the USD is achieved via maintaining a sum of commercial paper, fiduciary deposits, cash, reserve repo notes, and treasury bills in reserves that is equal in USD value to the number of USDT in circulation. The current CoinMarketCap ranking is #3, with a live market cap of $83,164,233,607 USD. It has a circulating supply of 83,152,877,108 USDT coins.

2.    USD Coin (USDC)
USD Coin (known by its ticker USDC) is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Every unit of this cryptocurrency in circulation is backed up by $1 that is held in reserve, in a mix of cash and short-term U.S. Treasury bonds. The Centre consortium, which is behind this asset, says USDC is issued by regulated financial institutions. The current CoinMarketCap ranking is #5, with a live market cap of $49,510,531,644 USD. It has a circulating supply of 49,496,325,155 USDC coins.

3.    TerraUSD (UST)
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage. The current CoinMarketCap ranking is #12, with a live market cap of $18,481,255,856 USD. It has a circulating supply of 18,447,136,572 UST coins.

4.    Binance USD (BUSD)
Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance (in partnership with Paxos), Approved and regulated by the New York State Department of Financial Services (NYDFS), The BUSD Monthly Audit Report can be viewed from the official website. Launched on 5 Sep 2019, BUSD aims to meld the stability of the dollar with blockchain technology. It is a digital fiat currency, issued as ERC-20 and supports BEP-2. The current CoinMarketCap ranking is #13, with a live market cap of $17,395,543,039 USD. It has a circulating supply of 17,405,297,031 BUSD coins.

5.    DAI (DAI)
DAI is an Ethereum-based stablecoin (stable-price cryptocurrency) whose issuance and development is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization.
The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI is minted. The current CoinMarketCap ranking is #19, with a live market cap of $8,966,203,868 USD. It has a circulating supply of 8,970,062,873 DAI coins.

6.    TrueUSD (TUSD)
TrueUSD is a U.S. dollar stablecoin pegged to USD at 1:1. First launched to a limited investor base in January 2018, TrueUSD has since grown to incorporate almost $400 million of backed tokens as of October 2020. TrueUSD is one of a number of cryptocurrency stablecoins administered by TrustToken, a platform for tokenizing real-world assets. The current CoinMarketCap ranking is #67, with a live market cap of $1,344,288,899 USD. It has a circulating supply of 1,344,449,690 TUSD coins.

7.    Pax Dollar(USDP)
Founded in September of 2018, Pax Dollar is a flat-collateralized stablecoin. Stablecoins are cryptocurrencies that are designed to minimize the volatility of the price of the stablecoin, relative to a certain stable asset or a basket of assets. The current CoinMarketCap ranking is #83, with a live market cap of $946,886,912 USD. It has a circulating supply of 945,642,940 USDP coins.

8.    Neutrino USD(USDN)
Neutrino USD (USDN) is an algorithmic crypto-collateralized stablecoin pegged to the US dollar. All operations involving USDN, such as issuance, collateralization, staking, and reward payouts, are transparent and governed by a smart contract. The current CoinMarketCap ranking is #85, with a live market cap of $939,478,461 USD. It has a circulating supply of 963,607,025 USDN coins.

9.    Fei Protocol (FEI)
Fei protocol is a DeFi native algorithmic stablecoin. The aim of Fei is to propose a technological solution in a sweet spot between rigid overcollateralized decentralized stablecoin and centralised custodial stablecoins. The current CoinMarketCap ranking is #133, with a live market cap of $418,043,123 USD. It has a circulating supply of 424,996,178 FEI coins.

10.    TRIBE
Tribe is the governance token for the FEI algorithmic stablecoin. Fei aims to provide a new decentralized solution to the stablecoin market. Existing stablecoins are either fiat-collateralized and, therefore, centralized or crypto-collateralized, making them capital-inefficient. Other algorithmic stablecoins suffer from no liquidity backing the peg, making them inherently unstable or centralize rewards to seigniorage stakeholders. The current CoinMarketCap ranking is #190, with a live market cap of $225,016,379 USD. It has a circulating supply of 453,448,622 TRIBE coins and a max. supply of 1,000,000,000 TRIBE coins.

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DATE: Wed, 4th May. 2022 4:03pm

TAGS: News

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