The stablecoin market is proving to be resilient with the top ten tokens in terms of the market capitalization remaining in the same position with the US dollar. Even though the overall cryptocurrency market has become volatile, major stablecoins have remained pegged with relatively limited fluctuations, indicating a perennial need of low-volatility digital currencies.
Tether Maintains Market Leadership
The USDT by Tether continues to be the unrivaled market leader in the stablecoin industry with a market capitalization of about $186.7 billion. Traded slightly lower than the dollar at approximately, $0.9987, USDT records marginal drops in the last 24 hours and seven days.
The level of daily trading is close to $83.9 billion, marking its position as the main liquidity profile in both centralized and decentralized markets. Being currently in circulation with an amount of slightly over 186.9 billion tokens, USDT remains the key support to the crypto trading infrastructure.
USDC Holds Second Position on Stablecoin List
USDC has been ranked second as its market capitalization is approximately $73.4 billion and the supply is 73.4 billion tokens. USDC is priced near to $0.9996 and has demonstrated little change in price in the short periods. Daily volume is approximately about $14.1 billion which suggests consistent institutional and retail use.
Ethena USDe and DAI Compete for DeFi Liquidity
The USDe of Ethena has become one of the major competitors, gaining third place with a market capital of more than 6.5 billion dollars. USDe is trading at an average of about
$0.9985, with a rather volatile rate relative to its bigger competitors accompanied by a high level of daily trading volume averaging 148 million dollars. Its increased use in yield-oriented DeFi strategies has propelled circulation to a figure of about 6.6 billion tokens.
DAI comes behind with a market capitalization of approximately $5.36 billion. Decentralized stablecoin has a trading value of close to $0.9996 and a stable supply of 5.36 billion coins. A trading volume of about $98 million every day indicates sustained use in protocols in the decentralized finance, although the competition is growing with newer structures.
PayPal USD and World Liberty Financial USD Gain Ground
PayPal USD (PYUSD) has consistently increased its presence and it has a market cap of approximately 3.68 billion USD. PYUSD trades with a price of about $0.9995 and the daily trading volume of the stock is approximately $140 million. The fact that it has integrated with the PayPal ecosystem has made it a liaison between classical finance and digital assets.
One of them is World Liberty Financial USD (USD1) with a solid price of $1.00 and a favourable performance of the last 24 hours and seven days. USD1 exhibits an increasing transactional activity with a market capitalization of about $3.6 billion and a daily trading volume of more than $4.3 billion. It has a circulating supply of about 3.59 billion at the moment.
Emerging Stablecoins Expand the Market
Global Dollar (USDG) possesses a market capitalization of approximately $1.62 billion in the market at a price of approximately $0.9996; and a supply of 1.61 billion tokens circulating in the market. The daily volume is comparatively low, approximately $23 million, but USDG is stable in terms of price.
Ripple USD (RLUSD) trails behind with market capitalization set in the range of 1.33 billion dollars. RLUSD is traded just in the vicinity of $0.9996, with the daily volume amounting to nearly $156 million, which implies growing interest in the Ripple ecosystem.
USDD has a market value of approximately $1.11 billion and it is trading at $0.9986. Though its daily volume has dropped to less than $4.1 million, its supply in circulation of 1.11 billion tokens keeps it in the top ten.
United Stables (U) completes the list having slightly less than $700 million market capitalization. The stablecoin trades at about $0.9985 and displays slight changes downward in the course of a week and maintains a volume of about $43.6 million per day.
