Table 1 Comparison of bitcoin and popular stablecoins by backing, market capitalization, and trading volume as of 7:50 a.m. UTC, June 28, 2022
From: Intelligent design: stablecoins (in)stability and collateral during market turbulence
Coin | Asset class | Financial backing structure | Market cap ($) | Volume ($-24 h) |
|---|---|---|---|---|
USDT | Stablecoin | Diversified reserves | 66,759,936,925 | 41,133,272,015 |
USDC | Stablecoin | Cash and US bonds | 55,826,655,034 | 4,330,623,305 |
BUSD | Stablecoin | $1 for 1 | 17,439,109,190 | 5,255,903,027 |
DAI | Stablecoin | Collateralized debt | 6,780,302,604 | 250,145,391 |
UST | Stablecoin | Algorithmic design, some cryptocurrency reserves | 476,000,027 | 97,740,154 |
BTC | Cryptocurrency | N/A | 398,452,637,815 | 21,643,828,415 |