What is the biggest stable coin?

USDC (USDC) follows closely behind with a market cap of $59.46 billion. Launched by Circle and Coinbase, USDC is another popular stablecoin that is fully collateralized by US dollars and regulated by the Financial Crimes Enforcement Network (FinCEN). Its growing adoption underscores its reliability and trustworthiness.

Ethena USDe (USDe) is another notable stablecoin with a market cap of $5.39 billion. This stablecoin is backed by a reserve of high-quality assets, including cash, cash equivalents, and short-term U.S. Treasury bills. Its unique design ensures that it maintains a stable value while offering flexibility and scalability.

Dai (DAI) is another stablecoin with a significant market cap of $5.37 billion. Unlike other stablecoins, Dai is an algorithmic stablecoin that maintains its peg to the US dollar through a system of collateralized debt positions and smart contracts on the Ethereum blockchain. Its decentralized nature makes it an attractive option for those seeking a more transparent and secure stablecoin.

The six largest stablecoins in the world hold significant market capitalization. Tether (USDT) tops the list with a market cap of $143.5 billion. This stablecoin is widely used in the cryptocurrency market due to its peg to the US dollar, providing a stable value for traders and investors.

First Digital USD (FDUSD) holds a market cap of $2.46 billion. This stablecoin is issued by First Digital Trust Company, a regulated trust company in the United States. FDUSD is backed 100% by US dollars held in reserve and is subject to regular audits to ensure its peg to the US dollar.