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Top 10 Stablecoins ready to dominate 2022

PAR002_123 • Nov 22, 2021

In 2021 the market capitalisation of stablecoins pegged to the U.S. dollar or Euro quadrupled to over $120 billion - here are our top 10 Stablecoins ready to dominate Crypto in 2022


As the blockchain space continues to boom, recent data from the International Monetary Fund (IMF) shows that the market capitalisation of stablecoins pegged to the U.S. dollar or Euro – has quadrupled to over $120 billion in 2021, with stablecoin trading volumes overtaking those of all other crypto assets, including bitcoin.




Here are our top 10 Stablecoins ready to dominate Crypto in 2022


Tether Stablecoins

Tether


Market cap: US $73.829 billion


Tether is one of the first stablecoins that has gained a lot of popularity because of its US$1 value. Due to the cryptos’ dramatic volatile behaviour, several lose investors lose interest in the market. Stablecoins like tether minimise this volatility. Tether was created to remain at US$1, with US1 in reserves for each tether released. The coin describes itself as a platform designed to facilitate the use of fiat currencies virtually.


Binance USD Stablecoins

Binance USD 


Market cap: US $13.051 billion


Binance launched its stablecoin in 2019, which relatively makes it a newcomer in the crypto space. BUSD was offered as an attractive bid to its new users looking to get into the crypto world safely and securely. Binance USD has pegged itself to the US dollar which enhances its stability. BUSD is one of the biggest cryptocurrency exchanges which will continue to rise in 2022.


USD Coin Stablecoins

USD Coin


Market cap: US $34.423 billion


USD coin anchors its value to the dollar and operates on various blockchains like the algorand, ethereum, and Solana, to name a few. It works on CENTRE technology, which appeared as a joint effort by Coinbase and Circle. Additionally, it is a crypto-backed stablecoin. Its fund reserves remain in the FDIC-insured US banks.


Pax Dollar Stablecoins

Pax Dollar



Market cap: US $9.45 million


Pax dollar, previously known as Paxos Standard was a dollar-backed stablecoin operating on the ethereum blockchain. Experts believe that it is one of the best fiat collateralised tokens in terms of eliminating cross-border transaction fees. Wall Street regulators widely accept this token and consider it a reliable crypto asset. It also aids in improving the traditional financial industry.

 


True USD Stablecoins


True USD


Market cap: US $1.209 billion


True USD was launched in 2018 and is a 100% dollar-backed stablecoin in the market. It is transparent, reliable, and many consider it perfect to use as a hedge against market volatility. The token features a ratio of 1:1 against the dollar. Furthermore, its creators do not participate in the transfer and have no access to it.


Terra Stablecoins


Terra USD


Market cap: US $36 million


The underlying Terra protocol that runs Terra USD is a tried-and-true network in the stablecoin space. Terra uses its LUNA cryptocurrency token to keep its stablecoins balanced using an interesting system.


e-Money Stablecoins

e-Money EUR (EEUR)



Market Cap: $10,882,466


The e-Money protocol is built for the issuance of a range of interest-bearing currency-backed stablecoins reflecting various world currencies. Each token is 100% backed by a reserve of assets denominated in its underlying currency. e-Money currently supports the Euro (EUR), Swiss Franc (CHF), Swedish Krona (SEK), Norwegian Krone (NOK), and the Danish Krone (DKK) with a host of additional currencies pegged for release throughout the year. The project is dedicated to total transparency with quarterly reserve audits performed by Ernst & Young.


e-Money's network is secured by its (NGM) token.


Dai Stablecoins

Dai


Market cap: US $6.481 billion


Dai is an ethereum-based stablecoin. Its price is pegged to the US dollar and is collateralized by a mix of other cryptocurrencies. Its issuance and development are managed by the maker protocol and the makerDAO decentralized autonomous organization.



Celo Stablecoin

Celo


Market Cap: US $123,227,016


Celo Dollars (cUSD) are a stablecoins that follow the US Dollar and are native to the Celo blockchain's Reserve system. The Celo Reserve is a system of smart contracts that uses a portfolio of cryptocurrencies to expand and contract the supply cUSD, similar to MakerDAO's lending protocol.



Reserve Rights Stablecoin

Reserve Rights


Market cap: US $4.63 million


Reserve right is a dual-token stablecoin platform. The coin aims to create a censorship-resistant stablecoin and a decentralized fiat gateway network. The crypto is backed by a basket of assets managed by smart contracts.




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