5 Top Stablecoins In Terms of Trading Volume
The competition among stablecoins is heating up in the crypto world, and interestingly, very few investors seem to pay attention to them, especially if they are not pegged to the US Dollar. Let’s take a look at the top 5 stablecoins in the cryptocurrency market in terms of trading volume.
This is perhaps the most popular dollar-pegged cryptocurrency in the market. It’s no surprise that the coin is the second-most traded digital asset behind bitcoin, accounting for more than $3 billion in a 24-hr period. Tether has also broken record for generating more trading volume than its market capitalization value on almost a daily basis. The top exchanges for USDT activity include OKEx, Huobi, Binance, and BitForex.
Heard about CK USD? Well, not many people are aware of this dollar-pegged cryptocurrency, but it has been picking up very fast recently. It seems traders are looking for options to explore beyond Tether, which has dominated the market as the most stable coin. Currently, statistics show that the 24-hr trading volume of CK USD is around $142 million. Allcoin and BCEX are two major exchanges where CK USD is used most, with the latter controlling 60% of the market through its ETH and BTC pairs. This is an interesting development worth following.
This stablecoin was catapulted to a new level thanks to its listing on Binance and Bittrex. Currently its trading volume is around $15 million daily, but it’s slowly picking up, which is a good thing for the market. The exchanges where TrueUSD is used mostly include HBUS, Zebpay, CoinTiger, Bittrex, and Binance.
Before stablecoin competitors emerged, Dai was a good bet, but is now becoming less popular compared to some of the new ones being released into the market. It accounts for a daily trading volume of around $13 million, which is not bad considering that it’s poised to have a come-back and compete with the likes of Tether and TrueUSD. The coin is primarily traded on Keyber Network, OasisDEX, Ethfinex, Radar Relay, and HitBTC.
This is not a dollar-pegged cryptocurrency, but it’s doing very well when it comes to stability. This coin is, instead, linked to the Chinese Yuan and primarily issued on BitShares protocol. It accounts for a daily trading of around $12.2 million, showing that it is popular among traders. The exchanges where BitCNY is mostly traded include OpenLedger DEX, BitShares Asset Exchange, and CoinTiger.
Achieving stability in the cryptocurrency market, which is known to be very volatile, is not an easy thing. In one way or another, these coins have been able to maintain their prices, making them great stablecoins for traders.