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Executive Summary

Stablecoins, as the name implies, are a class of cryptocurrencies whose ultimate goal is to be price stable with different mechanisms to maintain stability. Stablecoins can be classified into four categories: fiat-backed, commodity-backed, crypto-backed, and algorithmic stablecoins

In this report, we analyse several prominent players in the stablecoin space including USDT, USDC, UST, BUSD, etc., providing an overview of their market cap, market dominance, NVT ratio, volatility, and social media followers to demonstrate the trend in the history and the period of UST’s collapse in May. We also delve into some potential risks and common criticisms for the major stablecoins, together with the industry’s efforts to improve.

Here are the key findings:

Read the full report here: Top Stablecoins by Market Cap: A Comprehensive Analysis

Top Stablecoins by Market Cap: A Comprehensive Analysis

As of May, nearly 100 stablecoins have been launched. Their total market capitalisation surpassed US$180 billion before UST’s collapse.

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