Question 1

What are the different types of Stablecoins?

Accepted Answer

There are primarily three types of stablecoins: fiat-collateralized, crypto-collateralized, and non-collateralized. Fiat-collateralized stablecoins are backed by fiat currencies like the dollar or euro. Each stablecoin is equivalent to a specific amount of the fiat currency, which is held in reserve. Crypto-collateralized stablecoins are backed by other cryptocurrencies. Due to the volatility of cryptocurrencies, these stablecoins are often over-collateralized to absorb large price swings. Non-collateralized stablecoins are not backed by any reserve. Instead, they use a working mechanism, such as a smart contract, to maintain their value.

Question 2

What are the advantages of Stablecoins?

Accepted Answer

Stablecoins offer several advantages. Firstly, they provide stability in the highly volatile cryptocurrency market. This makes them a safe haven for investors during turbulent market conditions. Secondly, they enable the benefits of cryptocurrencies, such as fast and cheap transactions, while mitigating the risk of price fluctuations. Thirdly, they can be used as a medium of exchange, unit of account, and store of value, just like traditional money. Lastly, they can also facilitate cross-border transactions and remittances, providing a stable and efficient means of transferring value across borders.

Question 3

What are the disadvantages of Stablecoins?

Accepted Answer

Despite their advantages, stablecoins also have some disadvantages. One of the main concerns is the need for trust in the entity that holds the reserve assets. If this entity is not trustworthy, the stablecoin could lose its value. Additionally, fiat-collateralized stablecoins are subject to the same inflation and monetary policy issues as their underlying fiat currencies. Crypto-collateralized stablecoins, on the other hand, are exposed to the volatility of the underlying cryptocurrencies. Lastly, non-collateralized stablecoins rely on complex algorithms, which may not always work as expected, leading to instability.

#	Name	Price	1h %	24h %	7d %	Market Cap	Volume(24h)	Circulating Supply
3	Tether USDT	$0.9996	0.01%	0.02%	0.04%	$119.69B$119,694,198,860	$35,015,715,011 35,028,559,308 USDT	119,738,104,514 USDT
6	USDC USDC	$0.9999	0.00%	0.01%	0.00%	$35.03B$35,027,165,139	$2,609,592,364 2,609,728,283 USDC	35,028,989,507 USDC
20	Dai DAI	$0.9999	0.01%	0.01%	0.01%	$5.36B$5,364,664,704	$54,774,004 54,781,335 DAI	5,365,382,703 DAI
29	First Digital USD FDUSD	$0.9983	0.03%	0.00%	0.07%	$3.19B$3,192,987,758	$2,363,078,983 2,367,179,030 FDUSD	3,198,527,733 FDUSD
85	USDD USDD	$0.9974	0.01%	0.12%	0.13%	$747.4M$747,395,710	$3,112,729 3,121,000 USDD	749,381,454 USDD
97	PayPal USD PYUSD	$0.9998	0.02%	0.02%	0.03%	$673.8M$673,797,061	$6,951,999 6,953,233 PYUSD	673,916,694 PYUSD
121	TrueUSD TUSD	$0.9975	0.02%	0.04%	0.01%	$494.37M$494,372,165	$30,175,125 30,250,164 TUSD	495,601,553 TUSD
201	Ethena USDe USDe	$0.9987	0.01%	0.01%	0.02%	$2.43B$2,433,172,284	$12,367,105 12,382,660 USDE	2,436,232,780 USDe
208	Frax FRAX	$0.9969	0.00%	0.08%	0.03%	$647.44M$647,442,785	$2,437,161 2,444,654 FRAX	649,433,438 FRAX
213	Ondo US Dollar Yield USDY	$1.06	0.01%	0.25%	0.10%	$377.62M$377,623,075	$159,586 150,839 USDY	356,924,677 USDY
	USDBUSDB	$1.00
	USDJUSDJ	$1.14
	STASIS EUROEURS	$1.09
	TerraClassicUSDUSTC	$0.02
	Pax DollarUSDP	$1.00
	EURCEURC	$1.09
	USDX [Kava]USDX	$0.66
	Gemini DollarGUSD	$1.00
	Liquity USDLUSD	$1.00
	BUSDBUSD	$1.00
	Anchored Coins AEURAEUR	$1.10
	Venus BUSDvBUSD	$0.02
	Lift DollarUSDL	$1.00
	Tether EURtEURt	$1.08
	EuriteEURI	$1.09
	Steem DollarsSBD	$2.62
	Celo DollarCUSD	$1.00
	Reserve DollarRSV	$1.00
	XSGDXSGD	$0.77
	EdelcoinEDLC	$1.12
	BIDRBIDR	$0.00
	ZUSDZUSD	$1.00
	Rupiah TokenIDRT	$0.00
	Verified USDUSDV	$1.00
	GYENGYEN	$0.01
	sUSDSUSD	$1.00
	HUSDHUSD	$0.04
	VNX Swiss FrancVCHF	$1.17
	Fei USDFEI	$0.97
	Venus DAIvDAI	$0.02
	Origin DollarOUSD	$1.00
	Celo EuroCEUR	$1.09
	VaiVAI	$1.00
	Prisma mkUSDMKUSD	$0.99
	DjedDJED	$0.99
	VNX EuroVEUR	$1.10
	Sperax USDUSDs	$1.00
	Empty Set DollarESD	$0.00
	IDRXIDRX	$0.00
	Basis CashBAC	$0.00
	Savings DaiSDAI	$1.11
	USD+USD+	$1.00
	GHOGHO	$1.00
	USDP StablecoinUSDP	$1.00
	USDSUSDS	$0.99
	Bucket Protocol BUCK StablecoinBUCK	$1.00
	Worldwide USDWUSD	$1.00
	DOLADOLA	$1.00
	Gyroscope GYDGYD	$1.00
	Decentralized USD (DefiChain)DUSD	$0.02
	ZedxionUSDZ	$1.00
	lisUSDlisUSD	$0.99
	xDAIxDAI	$1.00
	Fathom DollarFXD	$1.00
	USDHUSDH	$1.00
	XIDRXIDR	$0.00
	Magic Internet MoneyMIM	$1.00
	Angle ProtocolEURA	$1.10
	Amnis Aptos CoinAMAPT	$9.86
	CriptodólarUXD	$1.00
	XUSDXUSD	$1.00
	Brazilian Digital TokenBRZ	$0.18
	JPY CoinJPYC	$0.01
	MAIMIMATIC	$0.58
	BounceBit USDBBUSD	$0.99
	Moola Celo USDmCUSD	$1.00
	Inter Stable TokenIST	$1.00
	dForce USDUSX	$1.00
	Moola Celo EURmCEUR	$1.09
	StablR EuroEURR	$1.09
	wanUSDTWANUSDT	$1.00
	ZARP StablecoinZARP	$0.06
	BiLiraTRYB	$0.03
	Meter StableMTR	$0.57
	CryptoFrancXCHF	$0.75
	Tether MXNtMXNt	$0.05
	ParallelPAR	$0.38
	USNUSN	$0.98
	Overnight DAI+DAI+	$1.00
	USD BancorUSDB	$0.13
	YUSD StablecoinYUSD	$0.99
	xDollar StablecoinXUSD	$1.05
	Fantom USDFUSD	$0.67
	Mad USDMUSD	$0.06
	JPY Coin v1JPYC	$0.01
	One CashONC	$0.06
	TORTOR	$0.02
	Digix Gold TokenDGX	$58.58
	Karatgold CoinKBC	$0.00
	BRCP TOKENBRCP	$0.22

Top Stablecoin Tokens by Market Capitalization