How many stablecoins are there currently? What are the top ten potential virtual currencies in 2024?

Stablecoins play an important role in today’s blockchain space, which has led to its widespread use and mainstream adoption. The main theme of everyone's support for stablecoins is based on seamless payments on the blockchain, because stablecoins can seamlessly maintain the continued stability of the project's digital assets, and its fees are very low, and it also allows borderless payments.

How many stablecoins are there currently?

There are currently about 16 stablecoins on the market. Let the editor of the currency circle introduce to you the ranking of the top ten stablecoins in 2022:

1.USDT

Tether is considered a stablecoin designed to be a bridge between fiat currencies and cryptocurrencies. It is designed to provide stability, transparency, and lower transaction costs for digital assets.

Brock Pierce, Reeve Collins and Craig Seller are the co-founders and CEOs of Tether. Tether was originally launched in Santa Monica in 2014 and was initially called "Realcoin". Tether is the first digital currency pegged to a fiat currency, and its market value is closely tied to currencies such as the U.S. dollar.

2.TUSD

True USD is a fiat-backed stablecoin issued by the Trust Token platform. It is designed to keep U.S. dollar funds safe without direct contact with Trust Token. As an ERC20 token, True USD is issued through the Ethereum blockchain network and is pegged to the U.S. dollar at a 1:1 ratio. This ensures the stability and transparency of True USD, making it highly trusted in the cryptocurrency market. Due to its characteristics based on legal currency collateral, True USD provides users with a reliable digital asset, while ensuring the safety and traceability of funds through smart contracts and blockchain technology. In the field of cryptocurrency, the emergence of True USD fills the gap in the market demand for stable coins and provides users with a reliable way to trade and store digital assets.

True USD is the first blockchain-based asset launched on the Trust Token network, founded by Rafael Cosman. San Francisco-based stablecoin True USD also has headquarters in Canada, the United States and other countries. This digital currency was first launched in 2017.

3.PAX

Paxos Standard (PAX) is an ERC-20 stable currency. This means it is created on the Ethereum blockchain. However, Paxos Standard is headquartered in New York.

PAX was launched in 2012 by Charles Cascarilla. As a stablecoin, it is approved for use by the New York State Department of Financial Services. PAX serves as the native currency within the Paxos standard ecosystem.

4.USDC

USD Coin (USDC) is a computerized stablecoin. It is pegged to the U.S. dollar at a 1:1 ratio via the Ethereum network. It was established in September 2018. In addition, USDC is an open-source and smart contract-based stablecoin that offers huge possibilities in terms of payments. Provided by Circle, Bitman and Coinbase.

5.BUSD

BUSD stablecoin is backed and collateralized at a 1:1 ratio of US dollars. It reduces volatility risk and enables users to trade with other blockchain-focused currencies anytime and anywhere. Perhaps, Binance launched BUSD in partnership with Paxos Standard. Established in September 2017. The BUSD stablecoin is traded in pairs with BTC, BNB and XRP via the Binance exchange. BUSD is headquartered in Malta. Changpeng Zhao (CZ) is the CEO of BUSD.

6.Goldcoin

As we have discussed other stablecoins above, we see that they are all stablecoins pegged to the US dollar. Hence the name. Gold Coin is also another stablecoin that is fully backed by gold. Additionally, gold coins are created via the Ethereum blockchain. As we continue, let's consider answering this question. Why are so many people interested in buying Goldcoin, which is more accurate than traditional gold?

With Goldcoin you can easily buy without having to think about where to store it safely. The Goldcoin Company personally stores gold in highly secure vaults. For this reason, holding gold coins arguably becomes less risky.

7.DAI

Like Goldcoin, Dai is also a stablecoin in the cryptocurrency industry. It is a crypto-collateralized asset issued on the Ethereum network. However, the DAI stablecoin was created in 2014. Founded by Rune Christen.

DAI activities are exclusively based on blockchain technology. Therefore, there is no intervention from a central organization. DAI has a Maker protocol. The protocol stabilizes the value of DAI through smart contracts through the use of Collateralized Debt Positions (CDPs).

8.USDS

StableUSD (USDS) is a stablecoin launched by crypto startup Stably. StableUSDS is pegged to the U.S. dollar at a one-to-one ratio. However, this rate is guaranteed as long as users buy or exchange USD through Stable.

This is due to the stable holding of USD one-to-one with all issued USDS within the crypto market. Like other stablecoins, StableUSD has different characteristics than fiat-collateralized stablecoins. It enables users to deposit digital assets such as Bitcoin, USDT, and Ethereum in exchange for USDS tokens.

9.GUSD

Gemini Dollar (GUSD) is a cryptographic token issued by the New York Trust Company, strictly pegged to the U.S. dollar on a 1:1 basis, and built on the ERC20 standard. Tokens on the Ethereum network.

The Gemini Dollar (GUSD) is a stable value coin that combines the credibility and price stability of the U.S. dollar with the technical advantages of cryptocurrency and the oversight of U.S. regulatory agencies. As ERC20 compliant, Gemini Dollar (GUSD) can be transferred on the Ethereum network.

10.HUSD

HUSD is a compliant stablecoin issued by Stable Universal, anchored at 1:1 with the US dollar. The corresponding funds are held in trust by trust institutions, and audit reports are issued monthly by professional companies. HUSD will continue to expand its wide range of applications in digital asset transactions, payments and other financial fields.

From a blockchain perspective, HUSD Token is based on the mature blockchain public chain - Ethereum. All on-chain operations are open, transparent, non-tamperable, and highly secure. Through smart contracts running in Ethereum, HUSD will become an indispensable infrastructure in the new generation of financial networks as a programmable digital dollar.

What are the top ten potential virtual currencies in 2024?

Bitcoin

As the earliest virtual currency, Bitcoin has It is known for its decentralization, security and scarcity.

Ethereum

Ethereum not only has the characteristics of Bitcoin, but also provides smart contract functions, giving it broad prospects in the application of blockchain technology.

Ripple

Ripple is a digital currency based on blockchain technology, with the main goal of improving the global payment system.

Litecoin

Litecoin has attracted attention for its faster transaction speed and low handling fees.

Polkadot

Polkadot is a cross-chain solution designed to achieve interoperability between different blockchains.

Cardano

Cardano is an emerging blockchain platform designed to provide a more sustainable and scalable digital economic system.

Chainlink

Chainlink is a bridge that provides external data and services for the blockchain.

Binance Coin

Binance Coin is the token of Binance exchange and has stability and liquidity.

VeChain

VeChain focuses on providing supply chain solutions and uses blockchain technology to track the source and flow of goods.

Solana

Solana is a high-performance blockchain that supports large-scale decentralized applications.

Through the above introduction to the question of how many stablecoins there are currently, I believe everyone already knows the ranking of the top ten stablecoins in 2022. In fact, stablecoins not only provide positive effects, but although its advantages outweigh the disadvantages, it also has disadvantages, such as because it is always linked to fiat currency, so its structure automatically turns to centralization. Stablecoins are safe and more stable when it comes to digital asset prices, but supported stablecoins have the same volatility characteristics and risks associated with the supporting assets. As long as everyone supports stablecoins in a decentralized manner, they will become stable, and stablecoins have a bright future.

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