What are the most popular stablecoins?

Shri

USDT is the first stablecoin and currently the third-largest cryptocurrency by market capitalization globally. Its 24-hour trading volume is only surpassed by the cryptocurrency "bigwig" Bitcoin. Interestingly, despite its prominent position, it has been surrounded by controversy due to insufficient cash reserves and a lack of transparency in fund supervision.

There have been claims in the market that Tether manipulates Bitcoin's price. However, many investors still choose Tether for various reasons:

Price stability: Despite ongoing controversies, Tether's price has consistently maintained a 1:1 peg to the US dollar, even during turbulent periods like 2017 and 2018.

High liquidity: Tether boasts the highest liquidity, allowing investors to buy and sell at any time.

Wide exchange support: Tether is tradable on virtually all exchanges, making it easily accessible to investors.

Quick fiat conversion: Tether can be easily converted to fiat through traditional banking methods.

USDC is the second-largest stablecoin, with a market capitalization of nearly $500 million, ranking fifth globally. It is co-issued by Coinbase and Circle and shares similarities with Tether, being a USD-pegged stablecoin supported by a 1:1 reserve in US dollars.

USD Coin has a robust background and is favored by investors for various reasons:

Strong backing: Coinbase is a cryptocurrency exchange itself, and Circle has received substantial funding in Series E, signifying financial strength and alleviating concerns about reserve adequacy.

1:1 USD support: USD Coin is pegged 1:1 to the US dollar and undergoes regular audits by Grant Thornton LLP, providing transparency.

Quick transactions: For those with a US Coinbase account, exchanging USDC for USD is straightforward using Coinbase's traditional banking services.

High liquidity: Many exchanges support USDC, ensuring that liquidity is not a concern for investors.

Support for various wallets: As an ERC20 token, USDC is compatible with various wallets, facilitating swift fund transfers for investors.

977Iti

As long as there is stability, there's not much to worry about.

Kahn332

I really don't know about this one.

Jafar224

I feel like Tether is still the most popular.

Isha000

There are still many popular stablecoins.