Santiment: Stablecoin Activity Report (August 2020)
Stablecoins are cryptocurrencies designed to minimize price volatility and hold (relatively) unchanged value. Generally speaking, stablecoins can be pegged to fiat currencies, other digital assets or virtually any commodity.
In this report, we concentrate on dollar-pegged stablecoins hosted on the Ethereum blockchain (ERC-20 stablecoins).
The report looks at top 6 ERC-20 stablecoins by market cap, namely:
- Tether (USDT)
- Multi Collateral Dai (DAI)
- USD Coin (USDC)
- Paxos Standard (PAX)
- TrueUSD (TUSD)
- BinanceUSD (BUSD)
- Husd (HUSD)
1. Stablecoin MarketSize
We start, as required, by determining the size of the stablecoin supply. Note that the actual amount of issued stablecoins is in a constant state of flux - for historical and real-time data, please visit app.santiment.net.
The below graph depicts the total amount of issued stablecoins to date. At present time, the stablecoin supply amounts to 10,116,201,217 coins.
The biggest stablecoin
There’s more of this Insight
Choose your subscription plan
Years of market experience, compressed in each report
Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.
Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.
Our previous TOP calls:WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
What you get with Sanbase Pro:
- Members-only daily market insights and analysis
- 30+ on-chain, social & project indicators for 900 cryptocurrencies
- Custom alerts for the coins' price, on-chain & social trends
- Santiment Spreadsheet plugin with 10+ pre-made market templates
- Personalized asset watchlists and weekly performance reports
Gain unfair advantage with Sanbase Pro
Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!