Algorithmic
Explore algorithmic stablecoins: crypto pegged to fiat, maintained by algorithms, not collateral.
Top gainers this week
Top losers this week
$USDe · 7 days on top this week
Down 3 places this week, $ONC is losing steam
$USDe climbed into the category leaders this week
Down 3 places this week, $BANK is losing steam
$CHI -100% this week
Down 100% this week, $PINTO is losing steam
Weakest this week: $DHT bottomed out at a 0 gem score
17 tokens rose and 13 fell this week
@panteoGovernance+3•13The noise around $USDe obscures its actual engineering. $ENA is tackling a core DeFi problem: generating sustainable, scalable, censorship-resistant yield on a synthetic dollar. They hedge derivatives to manage delta, a complex but potentially robust model.
Most fixate on the risks, ignoring the friction this solves for capital efficiency. Its long-term impact on stablecoin architecture is underestimated, currently mispriced.
Token | Price | 1d % ▲▼ | 1w % ▲▼ | 1m % ▲▼ | Market Cap ▲▼ | Volume 24h ▲▼ | Score ▲▼ | Category | Holders ▲▼ | Entropy ▲▼ | Mc/Rev ▲▼ |
|---|---|---|---|---|---|---|---|---|---|---|---|
USDeUSDe | $0.9998 | -0.0% | -0.0% | 0.2% | $3.93B | $42.90M | 71.98 | USD+1 | 46,041 | 0.2371 | – |
FraxFRAX | $0.9923 | 0.1% | 0.1% | 0.4% | $220.24M | $587,530 | 68.96 | 9,793 | 0.291 | – | |
USDeUSDe | $0.9998 | -0.0% | -0.0% | 0.2% | $3.97B | $6,259 | 67.79 | 28,303 | 0.2246 | – | |
Savings UsddsUSDD | $1.059 | -0.0% | -0.0% | 0.3% | $233.46M | $447.07 | 66.6 | 3,705 | 0.575 | – | |
Frax USDfrxUSD | $0.9999 | 0.1% | -0.0% | 0.0% | $108.54M | $945,139 | 66.19 | 1,536 | 0.4067 | – | |
Frax USDFRAX | $0.2557 | -0.8% | -6.5% | 10.2% | $24.53M | $12,940 | 65.87 | USD+1 | 17,730 | 0.3448 | 73,883 |
FraxFRAX | $0.9923 | 0.1% | 0.1% | 0.4% | $221.82M | $9,127 | 64.09 | 2,631 | 0.3409 | – | |
OuroborosORX | $0.0008873 | 3.4% | 8.4% | 11.8% | $399,118 | $485.79 | 63.48 | 1,217 | 0.5296 | – | |
USDeUSDe | $0.9998 | -0.0% | -0.0% | 0.2% | $4.50B | $31.32M | 61.89 | 7,923 | 0 | – | |
USTUST | $0.005219 | -0.4% | -3.0% | -2.4% | $119,338 | $78.64 | 61.8 | 4,609 | 0.3821 | – | |
OpenDeltaUSDO | $0.079 | 0.0% | 32,950.7% | 32,950.7% | $90,993 | $0 | 55.18 | 25,398 | 0.443 | – | |
USDDDUSDDD | $0.9989 | -0.8% | 0.8% | -0.4% | $35.25M | $26,317 | 53.29 | 11,746 | 0.8425 | – | |
Axelar Wrapped USTUST | $0.005032 | 0.4% | -7.4% | -7.8% | $69,239 | $1,567 | 43.85 | Wrapped+1 | 54 | 0 | – |
PumpFun Unstable CoinPFUSC | $0.0003583 | 0.0% | 5,456.8% | 5,456.8% | $358,311 | $0 | 43.31 | 1,771 | 0.3079 | – | |
Fei ProtocolTRIBE | $0.3117 | -0.5% | -0.4% | 9.7% | $11.72M | $3,513 | 34.09 | – | – | – | |
Basis CashBAC | $0.002177 | -0.6% | -17.8% | -28.2% | $118,818 | $837.61 | 32.74 | – | – | – | |
UXDUXP | $0.00008363 | 0.0% | – | – | – | $0.008983 | 29.33 | 2,833 | 0.5678 | – | |
Unique Smart Contract Decentralized Stable CoinUSDXSMART | $0.6055 | -5.0% | – | – | $60,554 | $1,768 | 28.24 | 697 | 0.3517 | – | |
Float ProtocolBANK | $0.1342 | 0.0% | 0.2% | 13.2% | $18,021 | $0 | 26.28 | – | – | – | |
SnowtombSTOMB | $0.06265 | 0.0% | -4.5% | -4.6% | $0 | $0 | 25.06 | – | – | 0 | |
Unstable Toto CoinUSTC | $0.05166 | 0.0% | 1,124.7% | 1,124.7% | $1,661 | $0 | 25.01 | Meme+1 | 46 | 0 | – |
CHAOSCHAOS | – | 0.0% | – | – | $0 | $0 | 22.31 | 581 | 0.3618 | 0 | |
unstable coinUSDUC | $0.0001269 | 0.0% | 665.0% | 665.0% | $126,853 | $0 | 19.42 | Meme+1 | 7 | 0 | – |
unstable solana coinUSC | $0.0008188 | 0.0% | 139.9% | 139.9% | $766.86 | $0 | 17.26 | 9 | 0 | – | |
Fei USDFEI | $0.001939 | -5.3% | – | – | $84,308 | $0.4108 | 9.038 | 39 | 0 | – |
Frequently asked questions
How has Algorithmic performed recently?
The Algorithmic stablecoin category has seen some interesting movements over the past week and month, with the overall breadth showing a slight favoring of 'up' movements (17 up vs. 13 down). USDe (USDe) demonstrated strong performance, leading the streak for 7 days in the past week and 8 days over the last month, also registering the highest score of 71.8916 in both periods. Basis Cash (BAC) was a climber, gaining 2 ranks and increasing its score by 20.5% in both the 7-day and 30-day windows. Conversely, several tokens experienced significant drops. One Cash (ONC) and Pinto (PINTO) both fell 3 ranks and 0 ranks respectively, with 100% score percentage drops in both timeframes. Flat Money V1 (DHT) recorded the lowest score of 0.0, indicating a period of minimal activity. Frax USD (FRAX) exited the top K in both periods, while a new instance of USDe (USDe) entered the top K, suggesting potential re-evaluation or new listings.
What is an algorithmic stablecoin?
An algorithmic stablecoin is a type of cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like the US dollar. Unlike collateralized stablecoins, which are backed by reserves of assets, algorithmic stablecoins use a set of programmed rules and incentives to expand or contract their supply to maintain their peg.
How do algorithmic stablecoins maintain their peg?
Algorithmic stablecoins maintain their peg through automated mechanisms. If the stablecoin's price rises above its peg, the algorithm might increase the supply of the stablecoin to drive the price down. Conversely, if the price falls below its peg, the algorithm might reduce the supply, for instance, by offering incentives to burn stablecoins, thereby increasing its value back to the peg.
What are the risks associated with algorithmic stablecoins?
Algorithmic stablecoins carry inherent risks, primarily concerning their ability to maintain their peg during periods of high market volatility or stress. If the underlying algorithms fail to respond effectively to extreme market conditions, or if there isn't sufficient demand for the complementary tokens used in their mechanisms, the stablecoin can de-peg and lose significant value.
Are algorithmic stablecoins backed by real-world assets?
Generally, no. A key characteristic of algorithmic stablecoins is that they are not directly backed by reserves of fiat currency or other real-world assets held in a bank account. Their stability relies purely on the mathematical algorithms and economic incentives built into their protocol, often involving one or more other cryptocurrency tokens.
Where can I find algorithmic stablecoins?
TokenGems lists various cryptocurrencies, including those categorized as algorithmic stablecoins. You can browse this category to discover and learn more about tokens that utilize algorithmic mechanisms to maintain their stability.