Top 10 Stablecoins by Market Share

Here’s the complete list of the top 10 stablecoins by market share, including their country of origin, launch year, benefits, disadvantages, and official websites.

Stablecoins are crucial in the cryptocurrency ecosystem, providing stability in a volatile market. Below is a look at the top 10 stablecoins, their country of origin, launch year, benefits, disadvantages, and official websites.

1. Tether (USDT)

• Market Cap: $139.45 billion
• Price: $1.00
• Country of Origin: British Virgin Islands
• Launch Year: 2014
• Official Website: tether.to

Benefits:

• Highly liquid and widely accepted on exchanges.
• Facilitates trading across various crypto markets.

Disadvantages:

• Regulatory scrutiny regarding reserves and transparency.
• Past controversies over claims of full backing by USD.

2. USD Coin (USDC)

• Market Cap: $53.49 billion
• Price: $1.00
• Country of Origin: United States
• Launch Year: 2018
• Official Website: usdcoin.com

Benefits:

• Regular audits and transparency regarding reserves.
• Strong backing from reputable financial institutions.

Disadvantages:

• Limited availability on some decentralized exchanges.
• Potential for regulatory challenges in the future.

3. USDe (USDE)

• Market Cap: $5.77 billion
• Price: $1.00
• Country of Origin: United States
• Launch Year: 2021
• Official Website: usde.io

Benefits:

• Designed for easy integration with decentralized finance (DeFi) platforms.
• Promotes the use of digital assets in everyday transactions.

Disadvantages:

• Less widespread recognition compared to USDT and USDC.
• Smaller liquidity pool may lead to higher slippage.

4. Dai (DAI)

• Market Cap: $5.35 billion
• Price: $1.00
• Country of Origin: United States (governed by MakerDAO)
• Launch Year: 2017
• Official Website: makerdao.com

Benefits:

• Decentralized and backed by collateral rather than fiat currency.
• Allows users to maintain control over their assets.

Disadvantages:

• Complexity of maintaining its peg can lead to instability during market volatility.
• Reliance on the MakerDAO system for governance.

5. First Digital USD (FDUSD)

• Market Cap: $2.02 billion
• Price: $0.999
• Country of Origin: United States
• Launch Year: 2023
• Official Website: firstdigital.com

Benefits:

• Offers a competitive alternative to other stablecoins.
• Focuses on regulatory compliance.

Disadvantages:

• Relatively new, leading to uncertainty in adoption.
• Lower liquidity compared to larger stablecoins.

6. Pax Dollar (USDP)

• Market Cap: $1.02 billion
• Price: $1.00
• Country of Origin: United States
• Launch Year: 2018
• Official Website: paxos.com

Benefits:

• Fully backed by USD and subject to regular audits.
• Integrates easily into traditional finance systems.

Disadvantages:

• Limited acceptance on some platforms compared to USDT.
• Centralized control may deter some users.

7. USD Digital Dollar (USDD)

• Market Cap: $741.14 million
• Price: $0.996
• Country of Origin: Seychelles
• Launch Year: 2022
• Official Website: usdd.io

Benefits:

• Aims to enhance accessibility and usability in the crypto space.
• Designed for easy transactions and swaps.

Disadvantages:

• Less established compared to leading stablecoins.
• May face regulatory challenges.

8. Frax (FRAX)

• Market Cap: $652.85 million
• Price: $0.997
• Country of Origin: United States
• Launch Year: 2020
• Official Website: frax.finance

Benefits:

• Unique hybrid model combining algorithmic and collateralized stability.
• Aims to offer decentralization alongside stability.

Disadvantages:

• Complexity may confuse new users.
• Still in development and may face stability issues in volatile markets.

9. PAX Gold (PAXG)

• Market Cap: $571.03 million
• Price: $2,821.57
• Country of Origin: United States
• Launch Year: 2019
• Official Website: paxos.com

Benefits:

• Backed by physical gold, providing a hedge against inflation.
• Allows users to hold digital gold in a blockchain format.

Disadvantages:

• Price volatility linked to gold market fluctuations.
• Higher transaction fees compared to traditional stablecoins.

10. PayPal USD (PYUSD)

• Market Cap: $343.16 million
• Price: $0.996
• Country of Origin: United States
• Launch Year: 2023
• Official Website: paypal.com

Benefits:

• Integrated within the PayPal ecosystem, enhancing usability.
• Supports easy transactions for both users and merchants.

Disadvantages:

• Limited to PayPal’s platform, reducing broader adoption.
• Centralized control may be a concern for some crypto enthusiasts.

Conclusion

These stablecoins play vital roles in providing stability and liquidity in the cryptocurrency market. Understanding their origins, launch years, benefits, drawbacks, and official websites can help investors and users navigate the dynamic crypto landscape.