Question 1

What are the different types of Stablecoins?

Accepted Answer

There are primarily three types of stablecoins: fiat-collateralized, crypto-collateralized, and non-collateralized. Fiat-collateralized stablecoins are backed by fiat currencies like the dollar or euro. Each stablecoin is equivalent to a specific amount of the fiat currency, which is held in reserve. Crypto-collateralized stablecoins are backed by other cryptocurrencies. Due to the volatility of cryptocurrencies, these stablecoins are often over-collateralized to absorb large price swings. Non-collateralized stablecoins are not backed by any reserve. Instead, they use a working mechanism, such as a smart contract, to maintain their value.

Question 2

What are the advantages of Stablecoins?

Accepted Answer

Stablecoins offer several advantages. Firstly, they provide stability in the highly volatile cryptocurrency market. This makes them a safe haven for investors during turbulent market conditions. Secondly, they enable the benefits of cryptocurrencies, such as fast and cheap transactions, while mitigating the risk of price fluctuations. Thirdly, they can be used as a medium of exchange, unit of account, and store of value, just like traditional money. Lastly, they can also facilitate cross-border transactions and remittances, providing a stable and efficient means of transferring value across borders.

Question 3

What are the disadvantages of Stablecoins?

Accepted Answer

Despite their advantages, stablecoins also have some disadvantages. One of the main concerns is the need for trust in the entity that holds the reserve assets. If this entity is not trustworthy, the stablecoin could lose its value. Additionally, fiat-collateralized stablecoins are subject to the same inflation and monetary policy issues as their underlying fiat currencies. Crypto-collateralized stablecoins, on the other hand, are exposed to the volatility of the underlying cryptocurrencies. Lastly, non-collateralized stablecoins rely on complex algorithms, which may not always work as expected, leading to instability.

#	Name	Price	1h %	24h %	7d %	Market Cap	Volume(24h)	Circulating Supply
3	Tether USDT	$0.9999	0.00%	0.01%	0.01%	$119.66B$119,660,284,587	$53,763,711,237 53,771,376,445 USDT	119,677,344,811 USDT
6	USDC USDC	$1.00	0.00%	0.01%	0.00%	$35.5B$35,504,890,212	$5,425,534,744 5,425,491,194 USDC	35,504,605,223 USDC
20	Dai DAI	$0.9998	0.01%	0.01%	0.00%	$5.36B$5,364,214,392	$81,537,099 81,554,858 DAI	5,365,382,703 DAI
36	First Digital USD FDUSD	$0.9982	0.07%	0.02%	0.07%	$2.61B$2,611,603,565	$4,393,072,424 4,400,864,110 FDUSD	2,616,235,583 FDUSD
89	USDD USDD	$0.9986	0.02%	0.08%	0.07%	$740.86M$740,864,671	$2,814,550 2,818,365 USDD	741,869,083 USDD
91	PayPal USD PYUSD	$0.9999	0.04%	0.02%	0.09%	$729.52M$729,520,762	$19,820,608 19,821,947 PYUSD	729,570,066 PYUSD
122	TrueUSD TUSD	$0.9974	0.06%	0.02%	0.10%	$494.3M$494,298,624	$36,758,984 36,855,878 TUSD	495,601,553 TUSD
201	Ethena USDe USDe	$0.9989	0.02%	0.00%	0.05%	$2.53B$2,533,398,241	$30,856,674 30,890,830 USDE	2,536,202,545 USDe
207	Frax FRAX	$0.997	0.00%	0.01%	0.03%	$647.49M$647,494,738	$7,291,296 7,313,127 FRAX	649,433,438 FRAX
215	Ondo US Dollar Yield USDY	$1.06	0.73%	0.15%	0.47%	$342.02M$342,017,195	$275,859 259,810 USDY	322,119,366 USDY
	USDBUSDB	$1.00
	USDJUSDJ	$1.15
	STASIS EUROEURS	$1.10
	TerraClassicUSDUSTC	$0.02
	Pax DollarUSDP	$1.00
	EURCEURC	$1.10
	USDX [Kava]USDX	$0.67
	Gemini DollarGUSD	$1.00
	Liquity USDLUSD	$1.00
	BUSDBUSD	$1.00
	Anchored Coins AEURAEUR	$1.10
	Venus BUSDvBUSD	$0.02
	Lift DollarUSDL	$1.00
	Tether EURtEURt	$1.08
	Steem DollarsSBD	$2.65
	EuriteEURI	$1.10
	Celo DollarCUSD	$1.00
	Reserve DollarRSV	$1.00
	XSGDXSGD	$0.77
	EdelcoinEDLC	$1.12
	BIDRBIDR	$0.00
	ZUSDZUSD	$1.00
	Rupiah TokenIDRT	$0.00
	Verified USDUSDV	$1.00
	GYENGYEN	$0.01
	sUSDSUSD	$1.00
	VNX Swiss FrancVCHF	$1.17
	HUSDHUSD	$0.04
	Venus DAIvDAI	$0.02
	Fei USDFEI	$0.97
	Origin DollarOUSD	$1.00
	Celo EuroCEUR	$1.10
	VaiVAI	$1.00
	Prisma mkUSDMKUSD	$1.00
	VNX EuroVEUR	$1.10
	DjedDJED	$0.99
	Sperax USDUSDs	$1.00
	Empty Set DollarESD	$0.00
	IDRXIDRX	$0.00
	Basis CashBAC	$0.00
	USD+USD+	$1.00
	Savings DaiSDAI	$1.11
	USDSUSDS	$1.02
	USDP StablecoinUSDP	$1.00
	GHOGHO	$1.00
	Worldwide USDWUSD	$1.00
	DOLADOLA	$1.00
	Bucket Protocol BUCK StablecoinBUCK	$1.00
	Gyroscope GYDGYD	$1.00
	ZedxionUSDZ	$1.00
	lisUSDlisUSD	$1.00
	Magic Internet MoneyMIM	$1.00
	xDAIxDAI	$1.00
	Brazilian Digital TokenBRZ	$0.18
	Fathom DollarFXD	$1.00
	XUSDXUSD	$1.00
	USDHUSDH	$0.99
	CriptodólarUXD	$1.00
	XIDRXIDR	$0.00
	Moola Celo USDmCUSD	$1.00
	MAIMIMATIC	$0.59
	Decentralized USD (DefiChain)DUSD	$0.02
	BounceBit USDBBUSD	$1.00
	JPY CoinJPYC	$0.01
	Angle ProtocolEURA	$1.10
	Inter Stable TokenIST	$1.00
	Moola Celo EURmCEUR	$1.10
	Amnis Aptos CoinAMAPT	$8.56
	dForce USDUSX	$0.99
	Meter StableMTR	$0.55
	ZARP StablecoinZARP	$0.06
	StablR EuroEURR	$1.10
	Overnight DAI+DAI+	$0.99
	JPY Coin v1JPYC	$0.01
	BiLiraTRYB	$0.03
	wanUSDTWANUSDT	$1.01
	CryptoFrancXCHF	$1.14
	Tether MXNtMXNt	$0.05
	One CashONC	$0.06
	USNUSN	$0.98
	TORTOR	$0.01
	Mad USDMUSD	$0.06
	USD BancorUSDB	$0.13
	YUSD StablecoinYUSD	$0.99
	Fantom USDFUSD	$0.63
	xDollar StablecoinXUSD	$1.05
	ParallelPAR	$0.38
	Digix Gold TokenDGX	$59.37
	Karatgold CoinKBC	$0.00
	BRCP TOKENBRCP	$0.22

Top Stablecoin Tokens by Market Capitalization