Glossary
• Stablecoins: Cryptocurrencies whose value is pegged to another currency, commodity, or financial instrument.
• CBDCs: Government-backed digital currencies used by consumers and businesses
• Centralised Stablecoins: Stablecoins that are collateral backed with corresponding assets by a third-party custodian.
• Decentralised Stablecoins: Non-custodial stablecoins that are issued by a DeFi protocol or DAO.
• Fiat-Backed Stablecoins: Stablecoins that are backed 1:1 by fiat currencies and other short-term assets.
• Algorithmic Stablecoins: Stablecoins where price stability is achieved using specialized algorithms and smart contracts that manage the supply of tokens in circulation.
• Crypto-backed Stablecoins: Stablecoins that are backed by another cryptocurrency as collateral. Most decentralised stablecoins that use smart contracts instead of relying on a central issuer are crypto-backed.
This report currently covers 118 stablecoins. This includes 16 centralized stablecoins including Tether, USDC, and BUSD. The rest of the 75 decentralised stablecoins covered in this report include DAI, MIM and USTC.
The report covers 23 fiat-backed stablecoins, 19 algorithmic stablecoins, and 76 crypto-backed stablecoins.
As of July 2024, the trading volume data consists of the 37 stablecoins that are currently trading on the centralized exchanges integrated with CCData API.