SVET Reports
Stable Coins
REPORT ‘20 TOP STABLE COINS IN THE CRYPTOCURRENCY MARKET’
WHAT IS A STABLE COIN?
A stablecoin is a cryptocurrency whose value is tied to another asset, most commonly a currency like the US dollar or the euro, though other assets can be used.
This sort of crypto coin tracks the underlying asset's value, ensuring that it remains stable over time, at least in contrast to the currency to which it is connected. It's almost as if the underlying asset, such as a digital dollar, has gone digital.
BRIEF OVERVIEW OF THE STABLE COIN MARKET
Market Cap for the stable coin market is $165.516BILLION, while the Average trading volume is $63.2BILLION. There are about forty-nine (49) stable coins on the cryptocurrency market that has visible trading volumes and market cap
ANALYSIS OF THE 20 MOST POPULAR STABLE COINS
TETHER (USDT)
Tether is a US dollar-denominated stablecoin. A stablecoin is a cryptocurrency that is linked to another fiat money, such as the US dollar, or a commodity, such as gold.Tether was the first stablecoin to be created, and it is still the most widely used stablecoin today. By both circulation and market capitalization, it has the most stablecoins. Teams are: Craig Sellars (founder & advisor), Paolo Ardoino (C.T.O), Jean Louis Van Der Velde (C.E.O).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
TETHER
USDT
$78.3BILLION
$67.7BILLION
USD COIN (USDC)
The CENTRE consortium developed USD Coin (USDC), a stablecoin that is entirely backed by the US dollar. In regions where USDC support is available, Coinbase clients with US dollar accounts can trade one USDC for one dollar (and vice versa). It is an Ethereum token. The team behind USD are as follows: Jeremy Allaire (Circle Co-founder & C.E.O), Sean Neville (Circle Co-founder & President of Product & Production).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
USD
USDC
$39.83BILLION
$3.99BILLION
BINANCE USD (BUSD)
Paxos and Binance collaborated to create BUSD, a stable coin. Some of the teams behind this coin include: Charles Cascarilla (C.E.O & Co-founder, Paxos), Andrew Chang (C.O.O, Paxos), Nancy Donbush (Global head of Operation, Paxos).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
BINANCE USD
BUSD
$14.19BILLION
$3.91BILLION
TERRA USD (UST)
TerraUSD is a Terra stablecoin that is tied to the US Dollar. Team behind it are: Daniel Shin and Do Kwon.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
TERRA USD
UST
$10.43BILLION
$258.7MILLION
DAI COIN (DAI)
Dai (DAI) is a digital asset that runs on the Ethereum platform. Multi-Collateral Dai adds a slew of new features, including support for new CDP collateral types and the Dai Savings Rate. Team behind it are: Rune Christensen (C.E.O), Steven Becker (President & C.O.O).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
DAI
DAI
$9.35BILLION
$442.22MILLION
MAGIC INTERNET MONEY (MIM)
The Abracadabra.money decentralized network has created MIM, a USD soft-pegged stablecoin. To mint MIM, Abracadabra employs interest-bearing tokens as collateral. C0-founder code-named ‘Squirrel’.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
MAGIC INTERNET MONEY
MIM
$4.6BILLION
$222.67MILLION
FRAX (FRAX)
Frax seeks to be the first stablecoin protocol to mix design elements from both in order to create an on-chain money that is highly scalable, trustless, extremely stable, and ideologically pure. Founder is Sam Kazemian.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
FRAX
FRAX
$1.93BILLION
$28.2MILLION
TRUE USD (TUSD)
TrueUSD is a USD-backed stablecoin that you can trade and rely on. You can trade, make, and receive payments with confidence since your funds are 100% collateralized by USD in legally-protected escrow accounts with numerous bank partners. The teams are: Danny An (Co-founder & C.E.O), Rafael Cosman (C.T.O, Co-founder), Stephen Kade (Co-founder & C.O.O)
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
TRUE USD
TUSD
$1.33BILLION
$133.15MILLION
PAX DOLLAR (USPD)
Pax Dollar is a crypto asset that is regulated. It is fully collateralized by the US dollar, is approved and controlled by the New York Department of Financial Services, and allows for immediate transactions. The team behind Paxos are: Charles Cascarilla (C.E.O & Co-founder, Paxos), Andrew Chang (C.O.O, Paxos), , Nancy Donbush (Global head of Operation, Paxos).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
PAXOS DOLLAR
USDP
$945.79MILLION
$21.98MILLION
LIQUITY USD (LUSD)
The Liquity Protocol has created LUSD, which is a fully redeemable USD-pegged stablecoin. Liquity is a decentralized lending technology that allows you to take out zero-interest loans using Ether as collateral. Founder is Robert Lauko.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
LIQUITY USD
LUSD
$833.15MILLION
$12.3MILLION
FEI USD (FEI)
Fei Protocol ($FEI) is a fully decentralized and undercollateralized direct incentive stablecoin. The Fei Protocol's purpose is to keep a liquid market where the price of ETH/FEI is near to the price of ETH/USD. Team members include: Joy Santoro (Co-founder), Sebastian Delgado (Co-founder).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
FEI USD
FEI
$751.8MILLION
$90.16MILLION
NEUTRINO USD (USDN)
Neutrino USD (USDN) is a crypto-collateralized algorithmic stablecoin that is tied to the US dollar. All USDN actions are transparent and managed by a smart contract, including issuance, collateralization, staking, and reward disbursements. Sasha Ivanov (CEO Vostok project).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
NEUTRINO USD
USDN
$539.4MILLION
$8.59MILLION
TETHER GOLD (XAUT)
Each XAU token symbolizes one troy fine ounce of actual gold held in a gold bar. XAU can be sent to any on-chain address from the purchaser's Tether wallet, which is available as an ERC-20 token on the Ethereum blockchain and as a TRC20 token on the TRON blockchain. Tether Gold (XAU) is also the only product in the competition that has direct control over actual gold storage, which is safely housed in a Swiss vault with best-in-class security and anti-threat procedures. The best option to hold gold now is Tether Gold (XAU). Founder is Paulo Ardoino (CTO Bitfinex & Tether)
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
TETHER GOLD
XAUT
$406.2MILLION
$1.1MILLION
.
HUSD (HUSD)
Stable Universal issues the HUSD Token, which is pegged to the dollar 1:1. The USD asset custodian will be Paxos Trust Company, and the HUSD Token will be audited periodically. Shi Deng is the founder.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
HUSD
HUSD
$328.8MILLION
$29.7MILLION
ALCHEMIX USD (ALUSD)
The Alchemix technology underpins alUSD, a yield-backed synthetic stablecoin. Scoopy Trooples is the Co-founder.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
ALCHEMIX USD
ALUSD
$284.78MILLION
$1.4MILLION
ORIGIN DOLLAR (OUSD)
Origin Dollar (OUSD) is the first stablecoin that earns a return while in your wallet. Origin Protocol's development team (OGN). Team include: Josh Fraser (Co-founder), Matthew Liu (Co-founder).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
ORIGIN DOLLAR
OUSD
$279.2MILLION
$3.14MILLION
EURO TETHER (EURt)
Tether token (EURt) is the world's first euro-pegged stablecoin. The EURt aims to provide stability against the price swings of digital assets by providing a token that is tethered to the euro. EURt is a liquid, reliable, and secure way to invest in the euro. EURt allows users to store money, send tokenized remittances, trade cryptocurrencies, and hedge against currency fluctuation. Ronny Boesing is the founder.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
EURO TETHER
EURt
$200.24MILLION
$16.1MILLION
GEMINI DOLLAR (GUSD)
The Gemini dollar, the world's first regulated stablecoin, combines the US dollar's creditworthiness and price stability with blockchain technology and US regulator control. On Gemini, you can exchange Gemini currencies for US dollars 1:1. On the Ethereum network, Gemini dollars are accepted. Tyler Winklevoss & Cameron Winklevoss are the CEOs & Co-founders of GUSD.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
GEMINI DOLLAR
GUSD
$165.13MILLION
$10.6MILLION
USDX (USDX)
The Kava DeFi hub's native stablecoin is USDX, which is backed by cryptography. Andrey Peshkov is the CEO, Founder.
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
USDX
USDX
$144.84MILLION
$1.3MILLION
sUSD (SUSD)
The Synthetix technology has created a synthetic USD token called sUSD. It uses price feeds from Chainlink's decentralized network of oracles to keep track of the US Dollar's value. The team are: Kain Warwick (founder), Justine Moses (COO).
NAME OF COIN
TICKER
MARKET CAP
AVERAGE DAILY TRADING VOLUME
sUSD
SUSD
$122.6MILLION
$5.86MILLION
REFERENCE
https://www.bankrate.com/investing/stablecoin-cryptocurrency/
https://cryptoslate.com/cryptos/stablecoin/
https://www.coingecko.com/en/categories/stablecoins