USD
USD-backed stablecoins: digital tokens pegged 1:1 to the US Dollar.
Top gainers this week
Top losers this week
5 days at the top this week: $USDC is dominating the category
Down 57 places this week, $USDM is losing steam
Up 56 places this week, $USAD is gaining ground
Up 48 places this week, $USDT is gaining ground
$STABLE · 6 gem score this week
$USDC · 76 gem score this week
92 tokens rose and 56 fell this week
Up 47 places this month, $JupUSD is gaining ground
@radkoGovernance+3•16Can't wait for $BUIDL to actively trade on Uniswap $UNI
@panteoGovernance+3•13The noise around $USDe obscures its actual engineering. $ENA is tackling a core DeFi problem: generating sustainable, scalable, censorship-resistant yield on a synthetic dollar. They hedge derivatives to manage delta, a complex but potentially robust model.
Most fixate on the risks, ignoring the friction this solves for capital efficiency. Its long-term impact on stablecoin architecture is underestimated, currently mispriced.
@KingInTheNorthUSD•6$USDT is a gem!
The alpha and omega of stable coins- @KingInTheNorthUSD•3
I want to buy some $USDt but a quick question for all, will USDT go beyond $1?
Frequently asked questions
How has USD performed recently?
The USD stablecoin category has seen mixed activity. Over the past 7 days, 92 tokens were up while 56 were down. USDC shows strength, leading with a 5-day streak. Significant climbers include Lydia (USAD) with a 165.8% score percentage increase, and Tether USD (USDT) on 0x171, up by 131.9%. Stables Labs USDX (USDX) on 0xa4b1 saw a notable drop of -50.4% in score percentage, while Mountain Protocol (USDM) also fell by -49.2%. Looking at the 30-day window, 84 tokens were up and 64 were down. Jupiter USD (JupUSD) climbed by 46.6% and USD Coin (USDC) on 0xa by 45.0%. Conversely, apxUSD declined by -37.7% and USDS on solana by -42.4%. (PoS) Tether USD (USDT) entered the top K in both 7-day and 30-day windows.
What are USD-backed stablecoins?
USD-backed stablecoins are a type of cryptocurrency designed to maintain a stable value by being pegged 1:1 to the US Dollar. For every stablecoin in circulation, there is typically an equivalent amount of USD held in reserve.
How do USD-backed stablecoins maintain their peg?
These stablecoins maintain their peg through reserves. Issuers hold an equivalent amount of US dollars (or cash equivalents) in audited bank accounts, which can be redeemed by stablecoin holders.
What are the primary uses of USD-backed stablecoins?
USD-backed stablecoins are widely used for trading, remittances, and as a safe haven during cryptocurrency market volatility. They offer the stability of the US dollar with the efficiency of blockchain technology.
Are USD-backed stablecoins regulated?
The regulatory landscape for USD-backed stablecoins is evolving across different jurisdictions. Some stablecoin issuers undergo regular audits and adhere to specific financial regulations to ensure transparency and stability of their reserves.
What are the risks associated with USD-backed stablecoins?
Risks include the potential for de-pegging if reserves are insufficient or mismanaged, regulatory uncertainty, and counterparty risk with the issuing entity. It's important to research the issuer's transparency and reserve auditing practices.