A list containing 74 different stablecoins reveals that only two of them had a market cap of over 10 billion USD in 2024. The likes of Tether (USDT) and USD Coin (USDC) are tied (pegged) to a "real-world" asset - in their case, the USD - whereas a coin like DAI is connected to the development of other cryptocurrencies. Algorithmic stablecoins have nearly no backing, but use an algorithm that creates more of a particular (crypto) asset within the same blockchain. Stablecoins as a group hit the news frequently in 2022, although only a few featured in a ranking of top 120 cryptocurrencies based on market cap. They are meant to be less volatile than, say, Bitcoin (BTC), Ethereum (ETH), or Shiba INU (SHIB), or other virtual currencies susceptible to significant price swings. The price of the most well-known stablecoin, Tether (USDT), however, consistently hovers around a single USD as is tied (pegged) to the “real-world” U.S. dollar. As stablecoins are connected to physical currencies, they are not the same as Central Bank-Issued Digital Currencies or CBDC like the digital euro or China's e-CNY - which outright digitalize those same currencies.
Market capitalization of 74 different stablecoins on June 25, 2024
(in billion U.S. dollars)
Characteristic
Market cap in billion U.S. dollars
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Exclusive Premium Statistic
To access all Premium Statistics, you need a paid Statista Account
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Statista. (June 25, 2024). Market capitalization of 74 different stablecoins on June 25, 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista. "Market capitalization of 74 different stablecoins on June 25, 2024 (in billion U.S. dollars)." Chart. June 25, 2024. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista. (2024). Market capitalization of 74 different stablecoins on June 25, 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista. "Market Capitalization of 74 Different Stablecoins on June 25, 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 25 Jun 2024, https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista, Market capitalization of 74 different stablecoins on June 25, 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/ (last visited September 01, 2024)
Market capitalization of 74 different stablecoins on June 25, 2024 (in billion U.S. dollars) [Graph], Statista, June 25, 2024. [Online]. Available: https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/