Market size of USD-backed stablecoin up until June 21, 2022
Although there are multiple stablecoins that use the USD as a collateral, three of these digital assets were much bigger than the others. The main names that spring to mind regarding stablecoins, Tether, USD Coin, and Binance Coin are the main examples of collateralized stablecoins, or stablecoins that are entirely or near entirely backed up by a reserve asset. Stablecoins have often been associated with their close relation to "real-world" fiat currencies to achieve their price stability and assuring the digital asset's value, most notably the U.S. dollar. Tether, USD Coin, and Binance Coin all ranked among the top cryptocurrencies in the world in June 2022, for that reason. There are other assets, however, that can serve as the backing for a stablecoin.
