Fiat-Backed
Fiat-backed stablecoins offer stability and reliability, directly pegged to traditional currencies.
Top gainers this week
Top losers this week
Down 59 places this week, $USDM is losing steam
Up 48 places this week, $USDT is gaining ground
Down 47 places this week, $USDR is losing steam
$STABLE · 6 gem score this week
$pUSD · 77 gem score this week
No longer among the leaders this week: $pUSD fell out of the top ranks
88 tokens rose and 95 fell this week
$USUAL +117 places this month
@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?
Token | Price | 1d % ▲▼ | 1w % ▲▼ | 1m % ▲▼ | Market Cap ▲▼ | Volume 24h ▲▼ | Score ▲▼ | Category | Holders ▲▼ | Entropy ▲▼ | Mc/Rev ▲▼ |
|---|---|---|---|---|---|---|---|---|---|---|---|
Frax USDfrxUSD | $0.9997 | -0.0% | -0.0% | 0.1% | $107.49M | $24,255 | 59.57 | 1,714 | 0.2668 | – | |
BUSD TokenBUSD | $0.9999 | -1.3% | 0.3% | 0.1% | $283.19M | $1.73M | 59.45 | USD+2 | 3.79M | 0.4251 | – |
JPY CoinJPYC | $0.006495 | 0.4% | 1.7% | 3.7% | $57.18M | $65,112 | 59.4 | 2,106 | 0.1752 | – | |
Super USDTUSDT | $0.9997 | 0.0% | -0.1% | 0.1% | $727,910 | $6,000 | 59.27 | USD+1 | 2,820 | 0.2402 | – |
USD CoinUSDC | $0.9998 | -0.0% | -0.0% | 0.0% | $1.59B | $383.32M | 58.19 | 4.64M | 0.3495 | – | |
CAD CoinCADC | $0.7145 | -0.3% | -0.4% | -0.9% | $987,515 | $45,190 | 57.67 | 1,480 | 0.1592 | – | |
FrankencoinZCHF | $1.229 | -0.2% | -0.7% | -0.4% | $43.00M | $44,981 | 57.45 | CDP+1 | 504 | 0.3088 | – |
Dai StablecoinDAI | $0.0003181 | 0.0% | -85.4% | -82.3% | $101.20M | $261,762 | 57.16 | USD+1 | 64,749 | 0.7578 | – |
USD0 Liquid BondUSD0++ | $0.9742 | -0.0% | 0.6% | 1.0% | $513.72M | $57,150 | 56.88 | USD+1 | 2,690 | 0.0374 | – |
Mezo USDMUSD | $0.9901 | 0.1% | 0.1% | -0.1% | $30.32M | $39,710 | 56.84 | 2,209 | 0.0772 | – | |
DUSDDUSD | $0.9989 | 0.0% | -0.0% | 0.1% | $100.54M | $3,533 | 56.65 | 2,518 | 0.143 | – | |
Macropod StablecoinAUDM | $0.7164 | -0.2% | -0.2% | 1.5% | $2.37M | $76,248 | 56.39 | 232 | 0.3219 | – | |
Tether USDUSDT | $0.9997 | 0.0% | -0.1% | 1.4% | $213.29M | $5.91M | 56.23 | 1.01M | 0.2713 | – | |
World Liberty Financial USDUSD1 | $0.9998 | 0.0% | -0.0% | 0.0% | $4.20B | $16.85M | 55.8 | 477,962 | 0.2174 | – | |
Mountain ProtocolUSDM | $1.003 | – | 0.0% | 0.9% | $1.39M | $0 | 55.22 | USD+2 | 13,630 | 0.1783 | – |
BRZ TokenBRZ | $0.1961 | 0.0% | 1.1% | 1.7% | $1.75M | $33,865 | 55.17 | 990 | 0.0889 | – | |
Dai StablecoinDAI | $0.9999 | -0.0% | 0.0% | 1.4% | $13.69M | $182,223 | 54.39 | USD+1 | 122,059 | 0.1548 | – |
USD Coin from EthereumUSDC | $0.9998 | -0.0% | -0.0% | 0.2% | $14.95M | $1.87M | 54.26 | USD+1 | 22,718 | 0.3034 | – |
agEURagEUR | $1.16 | 0.0% | -0.0% | 0.5% | $14,409 | $0.5957 | 54.25 | 55,837 | 0.7721 | – | |
Unity USDUUSD | $1 | -0.5% | 0.1% | 0.1% | $100.04M | $2.94M | 54.11 | USD+1 | 90,211 | 0.132 | – |
USDuUSDu | $0.9997 | 0.0% | -0.0% | 0.2% | $84.17M | $13,846 | 54.08 | 791 | 0.1134 | – | |
FxUSDFXUSD | $0.9999 | 0.1% | -0.0% | -0.0% | $81.83M | $21,187 | 53.88 | 719 | 0.1005 | – | |
USDAUSDA | $0.9222 | -0.5% | -2.1% | -4.9% | $80.21M | $23,498 | 53.57 | 401,807 | 0.2005 | – | |
United StablesU | $0.9994 | 0.0% | -0.0% | 0.0% | $1.27B | $55.82M | 53.47 | USD+1 | 68,513 | 0.1106 | – |
First Digital USDFDUSD | $0.9987 | 0.0% | -0.0% | 0.2% | $334.01M | $428,982 | 53.23 | 23,568 | 0.2418 | – |
Frequently asked questions
How has Fiat-Backed performed recently?
The Fiat-Backed category saw more tokens experiencing downward breadth (96) than upward breadth (75) over the past seven days, a trend that extended to the thirty-day window with 98 tokens down and 73 up. Over the last seven days, Usual EUR0 (USUAL) and Frankencoin (ZCHF) were among the top climbers by rank, while Polymarket USD (pUSD) recorded the highest score and led with a 6-day streak, also being a top entrant. (PoS) Tether USD (USDT) exited the top K. On the thirty-day view, Usual EUR0 (USUAL) and Frankencoin (ZCHF) continued to show strong rank increases. Jupiter USD (JupUSD) and agEUR also climbed in rank. Conversely, Dai Stablecoin (DAI), Tether USD (USDT) on Optimism, and USRX were among the significant fallers in rank over the thirty-day period. USD Coin (USDC) on Ethereum reached the maximum score over thirty days, but USD Coin (USDC) on Solana and USD Coin (USDC) on Optimism were among the tokens exiting the top K.
What are fiat-backed stablecoins?
Fiat-backed stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to a specific fiat currency, such as the US dollar or Euro. This peg is typically achieved by holding an equivalent amount of the underlying fiat currency in reserve.
How do fiat-backed stablecoins maintain their peg?
They maintain their peg by holding reserves of the corresponding fiat currency, or assets easily convertible to it, in a 1:1 ratio. Audits are often conducted to verify these reserves.
What are the benefits of using fiat-backed stablecoins?
Benefits include price stability, making them suitable for transactions, remittances, and as a safe haven during cryptocurrency market volatility. They bridge the gap between traditional finance and the crypto world.
Are fiat-backed stablecoins regulated?
The regulatory landscape for fiat-backed stablecoins is evolving globally. Some jurisdictions have introduced specific regulations, while others are still developing frameworks. The level of regulation can vary depending on the issuer and the jurisdiction.
What are the risks associated with fiat-backed stablecoins?
Risks can include the transparency and auditability of reserves, the potential for regulatory changes, counterparty risk if the issuer defaults, and smart contract risks if the stablecoin is issued on a blockchain.