SGD
SGD stablecoins: digital tokens pegged to the Singapore Dollar, offering stability and utility.
Top gainers this week
Top losers this week
Related
$XSGD has led the category 7 days running this week
$SGD sank to a 15 gem score this week
$XSGD · 67 gem score this week
Up 37.8% this week, $SGD is gaining ground
1 token rose and 3 fell this week
$XSGD is up 34.6% this month
Token | Price | 1d % ▲▼ | 1w % ▲▼ | 1m % ▲▼ | Market Cap ▲▼ | Volume 24h ▲▼ | Score ▲▼ | Category | Holders ▲▼ | Entropy ▲▼ | Mc/Rev ▲▼ |
|---|---|---|---|---|---|---|---|---|---|---|---|
XSGDXSGD | $0.7881 | -0.1% | 0.0% | 0.9% | $12.94M | $215,034 | 65.97 | 4,795 | 0.3727 | – | |
XSGDXSGD | $0.7881 | -0.1% | 0.0% | 0.9% | $12.92M | $4,659 | 60.6 | 3,211 | 0.3065 | – | |
XSGDXSGD | $0.7881 | -0.1% | 0.0% | 0.9% | $12.96M | $376,321 | 59.9 | 895 | 0.2802 | – | |
Secret Garden protocolSGD | $0.00888 | 0.4% | 4.9% | -33.1% | $11,344 | $26.3 | 23.39 | 60 | 0.2225 | – |
Frequently asked questions
How has SGD performed recently?
The SGD stablecoin category has seen mixed activity across the 7-day and 30-day windows. Over the past 7 days, XSGD (on chain_id 0x89) was a clear leader, showing a 7-day streak and the highest score of 66.8966. Meanwhile, Secret Garden protocol (SGD) experienced the lowest score at 13.318 but was also one of three tokens going down in breadth during this period, with one token going up. Looking at the 30-day window, XSGD (on chain_id 0x89) maintained its dominance with a 13-day streak and the highest score of 67.1062. Both XSGD (on chain_id 0x1) and Secret Garden protocol (SGD) were climbers, with Secret Garden protocol (SGD) showing a significant score increase of 96.4%. During this longer period, three tokens showed upward breadth, while only one was down.
What are SGD stablecoins?
SGD stablecoins are cryptocurrencies designed to maintain a stable value relative to the Singapore Dollar. Each token is typically backed by reserves of SGD held by the issuer, aiming for a 1:1 peg.
How do SGD stablecoins work?
SGD stablecoins work by holding an equivalent amount of Singapore Dollars in reserve for every token issued. This backing allows users to redeem their stablecoins for SGD, or vice-versa, ensuring price stability and reducing volatility compared to other cryptocurrencies.
What are the benefits of using SGD stablecoins?
Benefits include mitigating crypto market volatility, facilitating faster and cheaper international remittances, providing a stable medium of exchange for decentralized finance (DeFi) applications, and offering a digital representation of the Singapore Dollar for various transactions.
Are SGD stablecoins regulated?
The regulatory landscape for stablecoins, including those pegged to the SGD, is evolving. Regulations can vary by jurisdiction and the specific issuer. It is advisable to research the regulatory compliance of any specific SGD stablecoin project you are interested in.
Where can I use or trade SGD stablecoins?
SGD stablecoins can typically be traded on various cryptocurrency exchanges that support them. They can also be used in certain decentralized applications (dApps), for remittances, and as a store of value within the digital asset ecosystem, depending on their adoption and integration.