The Monthly Stablecoin Report: Top Trends and Performers You Need to Watch
Have you ever ever puzzled the best way to navigate the risky world of cryptocurrency with out going through fixed value swings? Stablecoins are the game-changers bridging the hole between the soundness of conventional currencies and the innovation of crypto. However with so many choices and complexities concerned, the place do you even start?
This complete information is your one-stop store to understanding the highest stablecoins, their intricate workings, and their impression on the crypto ecosystem. Dive in!
1. High Stablecoins: A Easy Evaluation
To do a easy evaluation aimed to seek out the highest stablecoins of the market on this month, typically, we contemplate three parameters: market capitalization, market dominance and buying and selling quantity.
1.1. High Stablecoins by Market Capitalisation
| Stablecoins | Market Capitalisation |
| Tether | $97,914,593,417 |
| USDC | $28,184,111,999 |
| Dai | $5,345,820,706 |
| First Digital USD | $3,304,111,463 |
| TrueUSD | $1,256,008,250 |
| USDD | $738,038,011 |
| Frax | $648,035,200 |
Tether dominates the stablecoin market with a market cap of $97.91 billion, adopted by USDC at $28.18 billion. Dai stands at $5.35 billion, with First Digital USD and True USD following swimsuit. USDD and Frax maintain smaller market shares. Tether’s important lead underscores its prominence within the stablecoin area.
1.2. High Stablecoins by Market Dominance
| Stablecoins | Market Dominance [in %] |
| Tether | 71.47% |
| USDC | 20.57% |
| Dai | 3.61% |
| First Digital USD | 2.42% |
| TrueUSD | 0.92% |
| USDD | 0.54% |
| Frax | 0.47% |
Tether dominates the stablecoin market with a 71.47% share, far forward of its closest competitor, USDC, at 20.57%. Dai, First Digital USD, and TrueUSD comply with with smaller percentages. USDD and Frax maintain minor market shares. Tether’s dominance displays its widespread adoption and belief throughout the stablecoin ecosystem.
1.3. High Stablecoins by Buying and selling Quantity
| Stablecoins | Buying and selling Quantity |
| Tether | $31,387,217,215 |
| USDC | $3,324,659,847 |
| Dai | $112,944,329 |
| First Digital USD | $3,288,626,553 |
| TrueUSD | $48,943,945 |
| USDD | $9,044,641 |
| Frax | $7,149,932 |
Tether leads in buying and selling quantity with $31.39 billion, adopted by USDC at $3.32 billion and First Digital USD at $3.29 billion. Dai, TrueUSD, USDD, and Frax have decrease buying and selling volumes. Tether’s considerably increased quantity suggests its widespread use for buying and selling and liquidity provision within the crypto market.
2. Stablecoin Worth Evaluation: An In-Depth Overview
Tether, USD Coin, Dai, First Digital USD, TrueUSD, USDD, and FRAX are the highest seven stablecoins on the premise of market capitalisation, on the time of penning this report.
Let’s do an in-depth value evaluation specializing in these seven cash.
2.1. Stablecoin One Month Change
| Stablecoins | One Month Change (in %) |
| Tether | +1.96% |
| USDC | +7.79% |
| Dai | -5.68% |
| First Digital USD | +32.71% |
| TrueUSD | -22.11% |
| USDD | +2.28% |
| Frax | -0.22% |
First Digital USD skilled the very best one-month change at +32.71%, adopted by USDC at +7.79%. Tether noticed a modest enhance of +1.96%, whereas TrueUSD suffered probably the most important decline at -22.11%. Dai and Frax additionally skilled decreases, indicating fluctuations in stability and market demand among the many prime seven stablecoins.
2.2. Stablecoin One Month % Off Peg
| Stablecoins | 1M % Off Peg |
| Tether | +0.40% |
| USDC | +0.50% |
| Dai | +0.30% |
| First Digital USD | +1.20% |
| TrueUSD | -2.71% |
| USDD | -0.82% |
| Frax | +0.50% |
Among the many prime seven stablecoins, TrueUSD skilled the very best deviation from its peg at -2.71%, whereas First Digital USD, USDC, Frax, Tether, and Dai had been barely above the pegs. USDD deviated negatively, although much less considerably. The deviations point out market dynamics influencing stablecoin costs relative to their meant pegs.
3. Stablecoins in Blockchains: A Detailed Overview
| Blockchains | Stablecoins Market Cap |
| Ethereum | $72.143B |
| Tron | $51.487B |
| BSC | $4.658B |
| Arbitrum | $2.287B |
| Solana | $2.228B |
| Polygon | $1.474B |
| Avalanche | $1.133B |
Ethereum dominates stablecoin market cap amongst blockchains with $72.143 billion, adopted by Tron at $51.487 billion. Binance Sensible Chain, Arbitrum, Solana, Polygon, and Avalanche maintain smaller shares. Ethereum’s important lead highlights its function as a major platform for stablecoin issuance and transactions throughout the crypto ecosystem.
3.1. USDT Dominance in Blockchains
| Blockchains | USDT Dominance |
| Tron | 50.72% |
| Ethereum | 40.28% |
| BSC | 3.66% |
| Arbitrum | 1.76% |
| Solana | 0.80% |
| Others | 2.78% |
Tron leads in USDT dominance amongst blockchains with 50.72%, adopted by Ethereum at 40.28%. Binance Sensible Chain (BSC), Arbitrum, and Solana have smaller shares. Tron’s important lead in USDT dominance reflets its recognition as a platform for USDT transactions, whereas Ethereum maintains a notable presence within the stablecoin market.
3.2. USD Coin Dominance in Blockchains
| Blockchains | USD Coin Dominance |
| Ethereum | 82.16% |
| Solana | 5.25% |
| Polygon | 1.97% |
| BSC | 1.64% |
| Arbitrum | 1.41% |
| Others | 7.57% |
Ethereum dominates USD Coin utilization amongst blockchains with 82.16%, highlighting its stronghold in facilitating USDC transactions. Solana follows with 5.25%, whereas Polygon, Binance Sensible Chain, and Arbitrum maintain smaller shares. Ethereum’s dominance underscores its significance within the ecosystem for USDC- based mostly transactions and liquidity provision.
3.3. Dai Dominance in Blockchains
| Blockchains | Dai Dominance |
| Ethereum | 91.12% |
| Polygon | 2.74% |
| Arbitrum | 1.61% |
| Gnosis | 1.57% |
| Others | 2.96% |
Ethereum overwhelmingly dominates Dai utilization amongst blockchains with 91.12%, underscoring its pivotal function as the first platform for Dai transactions and liquidity, Polygon follows distantly with 2.74%, whereas Arbitrum and Gnosis have smaller shares. Ethereum’s dominance displays its sturdy infrastructure supporting Dai’s decentralised stablecoin ecosystem.
3.4. First Digital USD Dominance in Blockchains
| Blockchains | First Digital USD Dominance |
| Ethereum | 95.07% |
| BSC | 4.93% |
Ethereum overwhelmingly dominates First Digital USD utilization amongst blockchains with 95.07%, highlighting its central function as the first platform for transactions involving this stablecoin. Binance Sensible Chain follows with a smaller share of 4.93%. Etheruem’s dominance underscores its sturdy infrastructure supporting First Digital USD transactions and liquidity.
3.5. TrueUSD Dominance in Blockchains
| Blockchains | TrueUSD Dominance |
| Tron | 68.77% |
| Ethereum | 30.79% |
| Others | 0.44% |
Amongst blockchains, Tron dominates TrueUSD utilization with 68.77%, whereas Ethereum follows with 30.79%. Tron’s important lead underscores its function as the first platform for TrueUSD transactions and liquidity. Ethereum, though having a smaller share, nonetheless maintains a notable presence in facilitating TrueUSD transactions inside its ecosystem.
3.6. USDD Dominance in Blockchains
| Blockchains | USDD Dominance |
| Tron | 99.26% |
| Ethereum | 0.62% |
| Others | 0.12% |
Tron overwhelmingly dominates USDD utilization amongst blockchains with 99.26%, illustrating its central function in facilitating transactions involving this stablecoin. Ethereum trails considerably with solely 0.62% dominance. Tron’s dominance displays its sturdy infrastructure supporting USDD transactions, whereas Ethereum’s smaller signifies lesser utilisation for USDD transactions inside its ecosystem.
3.7. Frax Dominance in Blockchains
| Blockchains | Frax Dominance |
| Ethereum | 87.11% |
| Arbitrum | 6.14% |
| Concord | 1.25% |
| BSC | 1.01% |
| Others | 4.49% |
Ethereum dominates Frax utilization amongst blockchains with 87.11%, highlighting its central function in facilitating transactions involving this stablecoin. Arbitrum follows with 6.14%, whereas Concord and Binance Sensible Chain have smaller shares. Ethereum’s dominance underscores its sturdy infrastructure supporting Frax transactions and liquidity throughout the ecosystem.
4. Stablecoins in Exchanges: A Easy Evaluation
Let’s look at the extent of engagement of stablecoins on cryptocurrency exchanges, by specializing in the highest three centralised and decentralised exchanges, exploring whether or not stablecoins characteristic prominently throughout the prime 5 buying and selling pairs on every platform.
4.1. Stablecoins in Centralised Exchanges
Binance, Coinbase Trade and OKK are the highest three centralised exchanges, on the premise of month-to-month visits, as they’ve attracted 73.5, 42.1M and 29M, month-to-month visits, respectively. Let’s analyse these three centralised exchanges.
4.1.1. Stablecoin Lively Buying and selling Pairs in Binance
| Binance High Buying and selling Pairs | Quantity % |
| BTC/FDUSD | 13.02% |
| ETH/USDT | 9.81% |
| BTC/USDT | 7.93% |
| FDUSD/USDT | 6.92% |
| ETH/FDUSD | 5.52% |
In Binance’s energetic buying and selling pairs, BTC/FDUSD leads with 13.02%, adopted by ETH/USDT at 9.81% and BTC/USDT at 7.93%. FDUSD/USDT and ETH/FDUSD additionally contribute, albeit to a lesser extent. These pairs point out important buying and selling exercise involving Bitcoin, Etherum and stablecoins like FDUSD and USDT on Binance’s platform.
4.1.2. Stabelcoin Lively Buying and selling Pairs in Coinbase Trade
| Coinbase High Buying and selling Pairs | Quantity % |
| ETH/USD | 18.59% |
| BTC/USD | 15.0% |
| USDT/USD | 10.85% |
| SOL/USD | 2.59% |
| COTI/USD | 1.93% |
Coinbase’s energetic buying and selling pairs are dominated by fiat-to-cryptocurrency pairs, with ETH/USD main at 18.59%, adopted by BTC/USD at 15.0% and USDT/USD at 10.85%. These pairs replicate important buying and selling exercise between cryptocurrencies and conventional fiat currencies, significantly Etherum and Bitcoin towards the US greenback, on Coinbase’s platform.
4.1.3. Stablecoin Lively Buying and selling Pairs in OKK
| OKK High Buying and selling Pairs | Quantity % |
| ETH/USDT | 21.24% |
| BTC/USDT | 14.3% |
| ETH/USDC | 3.86% |
| FIL/USDT | 3.7% |
| WLD/USDT | 3.31% |
On OKK alternate, stablecoin buying and selling pairs are outstanding, with ETH/USDT main at 21.24% and BTC/USDT following at 14.3%. Different pairs like ETH/USDC, FIL/USDT, and WLD/USDT additionally contribute, albeit to a lesser extent. This displays a big desire for buying and selling Ethereum and Bitcoin towards stablecoins like USDT, USDC on OKK.
4.2. Stablecoins in Decentralised Exchanges
Jupiter, Uniswap V3 (Ethereum), and Uniswap V3 (Arbitrum One) are the three prime decentralised exchanges, on the premise of month-to-month visits, as they’ve attracted 9706834, 9415033, 9415033 month-to-month visits, respectively. Let’s analyse these three decentralised exchanges.
4.2.1. Stablecoin Lively Buying and selling Pairs in Jupiter
| Jupiter High Buying and selling Pairs | Quantity |
| USDC/SOL | $65,612,311 |
| JITOSOL/SOL | $15,168,395 |
| USDC/USDT | $14,913,900 |
| USDC/JUP | $11,815,722 |
| JUP/SOL | $9,401,574 |
Jupiter’s energetic buying and selling pairs characteristic USDC closely, with USDC/SOL main in quantity at $65,612,311. Different pairs like USDC/USDT and USDC/JUP comply with, indicating a big desire for buying and selling USDC towards SOL and different cryptocurrencies on the Jupiter alternate, reflecting its significance as a stablecoin for buying and selling on this platform.
4.2.2. Stablecoin Lively Buying and selling Pairs in Uniswap V3 (Ethereum)
| Uniswap V3 (Ethereum) High Buying and selling Pairs | Quantity % |
| USDC/WETH | 13.61% |
| WETH/USDC | 13.43% |
| WBTC/WETH | 10.19% |
| WETH/USDT | 7.84% |
In Uniswap V3 (Ethereum), stablecoin buying and selling pairs are prevalent, with USDC/WETH and WETH/USDC main at 13.61% and 13.43% respectively. WBTC/WETH follows at 10.19%, indicating important buying and selling exercise involving Wrapped Bitcoin and Wrapped Ether. These pairs replicate customers’ desire for buying and selling between stablecoins and cryptocurrencies on Uniswap V3 (Ethereum).
4.2.3. Stablecoin Lively Buying and selling Pairs in Uniswap V3 (Arbitrum One)
| Uniswap V3 (Arbitrum One) High Buying and selling Pairs | Quantity % |
| USDC/WETH | 27.42% |
| WETH/USDV.E | 13.43% |
| WBTC/WETH | 12.16% |
| WETH/USDT | 11.01% |
| ARB/USDC.E | 9.92% |
In Uniswap V3 (Arbitrum One), stabelcoin buying and selling pairs dominate, with USDC/WETH main at 27.42%. Different pairs like WETH/USDV.E and WBTC/WETH comply with. These pairs replicate person’s desire for buying and selling with stablecoins and enhancing liquidity on Arbitrum One’s decentralised alternate platform.
All in all…
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Glad investing!
