USD
USD-backed stablecoins: digital tokens pegged 1:1 to the US Dollar.
Top gainers this week
Top losers this week
7 days at the top this week: $USDC is dominating the category
Up 87 places this week, $USDT.z is gaining ground
$aEthUSDT fell 75 places this week
$USDX -50 places this week
$BACKED sank to a 5 gem score this week
$USDC · 76 gem score this week
117 tokens rose and 39 fell this week
$YUSD +62 places this month
@radkoGovernance+3•17Can'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 experienced positive breadth over both the 7-day and 30-day windows, with more tokens showing upward movement than downward. Over the past 7 days, Tether USD Bridged ZED20 (USDT.z) was a significant climber, seeing its score percentage rise by 222.8%, while Aave Ethereum USDT (aEthUSDT) was a notable faller with its score decreasing by 48.6%. USD Coin (USDC) held the longest upward streak at 7 days. Looking at the 30-day period, Tether USD Bridged ZED20 (USDT.z) again stood out as a top climber with a 218.4% score increase, and YUSD also climbed with a 145.1% score increase. Aave Ethereum USDT (aEthUSDT) was the largest faller over 30 days, seeing its score decrease by 47.8%. USD Coin (USDC) extended its upward streak to 10 days. DAI Stablecoin (DAI) exited the top K, while USD Coin (USDC) entered it. The token with the lowest score across both periods was Backed (BACKED).
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.