A list containing 213 different stablecoins reveals that only two of them had a market cap of over 10 billion USD in 2025. The likes of Tether (USDT) and USD Coin (USDC) are tied (pegged) to a "real-world" asset - in their case, the USD - whereas a coin like DAI is connected to the development of other cryptocurrencies. Algorithmic stablecoins have nearly no backing, but use an algorithm that creates more of a particular (crypto) asset within the same blockchain. Stablecoins as a group hit the news frequently in 2022, although only a few featured in a ranking of top 120 cryptocurrencies based on market cap. They are meant to be less volatile than, say, Bitcoin (BTC), Ethereum (ETH), or Shiba INU (SHIB), or other virtual currencies susceptible to significant price swings. The price of the most well-known stablecoin, Tether (USDT), however, consistently hovers around a single USD as is tied (pegged) to the “real-world” U.S. dollar. As stablecoins are connected to physical currencies, they are not the same as Central Bank-Issued Digital Currencies or CBDC like the digital euro or China's e-CNY - which outright digitalize those same currencies.
Market capitalization of 213 different stablecoins on February 17, 2025
(in million U.S. dollars)
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Market capitalization of 213 different stablecoins on February 17, 2025
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Statista. (February 17, 2025). Market capitalization of 213 different stablecoins on February 17, 2025 (in million U.S. dollars) [Graph]. In Statista. Retrieved February 28, 2025, from https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista. "Market capitalization of 213 different stablecoins on February 17, 2025 (in million U.S. dollars)." Chart. February 17, 2025. Statista. Accessed February 28, 2025. https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista. (2025). Market capitalization of 213 different stablecoins on February 17, 2025 (in million U.S. dollars). Statista. Statista Inc.. Accessed: February 28, 2025. https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista. "Market Capitalization of 213 Different Stablecoins on February 17, 2025 (in Million U.S. Dollars)." Statista, Statista Inc., 17 Feb 2025, https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
Statista, Market capitalization of 213 different stablecoins on February 17, 2025 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/ (last visited February 28, 2025)
Market capitalization of 213 different stablecoins on February 17, 2025 (in million U.S. dollars) [Graph], Statista, February 17, 2025. [Online]. Available: https://www.statista.com/statistics/1315474/biggest-stablecoin-in-the-world/
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