USD
USD-backed stablecoins: digital tokens pegged 1:1 to the US Dollar.
Top gainers this week
Top losers this week
$DAI · 7 days on top this week
$UNI -102 places this week
$USDC +87 places this week
$USAD fell 33 places this week
$USDX sank to a 0 gem score this week
$DAI hit a gem score of 83 this week
246 tokens rose and 35 fell this week
@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 shows mixed activity over the past 7 and 30 days, with 165 tokens showing upward momentum and 116 declining. USD Coin (USDC) and Tether USD from BSC (TokensExpress) were notable climbers, alongside Matrix Dai (MXDAI) and Open USD (OUSD). In contrast, uusd and Lydia (USAD) experienced significant drops in score. Dai Stablecoin (DAI) stands out as the streak leader, maintaining its positive performance for 7 days, and also registering the highest score, while Stables Labs USDX (USDX) recorded the lowest score. The top climbers and fallers remained consistent across both the 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.