Markets
Stablecoins and their pegs
"Stable" describes what a coin aims to do, not what it is guaranteed to do. This page shows how far each one is currently trading from its target.
| Coin | Price | Off peg | Market cap |
|---|---|---|---|
Tether
USDT
|
$0.9992 | -0.08% | $183.10B |
USD Coin
USDC
|
$1.00 | 0.00% | $74.03B |
Ethena USDe
USDE
|
$1.00 | 0.00% | $14.08B |
Dai
DAI
|
$1.0000 | 0.00% | $5.37B |
PayPal USD
PYUSD
|
$1.00 | 0.00% | $1.39B |
First Digital USD
FDUSD
|
$0.9981 | -0.19% | $1.15B |
Ripple USD
RLUSD
|
$1.00 | 0.00% | $730.32M |
USDD
USDD
|
$0.9998 | -0.02% | $522.46M |
TrueUSD
TUSD
|
$0.9965 | -0.35% | $492.77M |
Frax
FRAX
|
$0.9897 | -1.03% | $293.68M |
EURC
EURC
|
$1.16 | not USD-pegged | $256.45M |
Deviation is measured against the coin's stated target. Small movements are normal market noise; a sustained gap is not.
A peg is a promise someone has to keep
A stablecoin holds its value because an issuer holds reserves and honours redemptions, or because a mechanism keeps supply and demand balanced. Both can fail, and both have. What matters is what backs it, who audits that, and whether you personally can redeem it.