Stablecoins
Digital money for everyday use
Stablecoins are Ethereum tokens designed to stay at a fixed value, even when the price of ETH changes.
Why stablecoins?
Stablecoins are cryptocurrencies without the volatility. They share a lot of the same powers as ETH but their value is steady, more like a traditional currency. So you have access to stable money that you can use on Ethereum. How stablecoins get their stability
Stablecoins are global, and can be sent over the internet. They're easy to receive or send once you have an .
Demand for stablecoins is high, so you can earn interest for lending yours. Make sure you're aware of the risks before lending.
Stablecoins are exchangeable for ETH and other Ethereum tokens. Lots of rely on stablecoins.
Stablecoins are secured by . No one can forge transactions on your behalf.
The infamous Bitcoin pizza
In 2010, someone bought 2 pizzas for 10,000 bitcoin. At the time these were worth ~$41 USD. In today’s market that’s millions of dollars. There are many similar regretful transactions in Ethereum’s history. Stablecoins solve this problem, so you can enjoy your pizza and hold on to your ETH.
Find a stablecoin
There are hundreds of stablecoins available. Here are some to help you get started. If you're new to Ethereum, we recommend doing some research first.
Editors' choices
These are probably the best-known examples of stablecoins right now and the coins we've found useful when using dapps.
USDS
USDS is the successor to Dai, fully backed by crypto and designed for onchain savings and rewards. Widely used in DeFi for while keeping users in full control of their funds.
USDC
USDC is the largest US-regulated fiat-backed stablecoin. Its value is pegged to the US dollar, issued by Circle, and is widely used.
GHO
GHO is a decentralized multi-collateral stablecoin created by Aave. It uses a hybrid model that combines crypto-collateralized backing with a community governance approach.
Glo Dollar
Glo Dollar (USDGLO) is a stablecoin that donates all profits to public goods and charities. By holding or using Glo Dollar, you help fund causes like fighting poverty and supporting open-source—at no extra cost to you.
Top stablecoins by market capitalization
Market capitalization is the total number of tokens that exist multiplied by the value per token. This list is dynamic and the projects listed here are not necessarily endorsed by the ethereum.org team.
| Currency | Market capitalization | ↗ | ||
|---|---|---|---|---|
 Tether USDT | $155,246,157,204 | Fiat | USD | Go to Tether |
 USDC USDC | $61,497,221,030 | Fiat | USD | Go to USDC |
 USDS USDS | $7,100,273,262 | Crypto | USD | Go to USDS |
 Ethena USDe USDe | $5,896,501,780 | Crypto | USD | Go to Ethena USDe |
 Dai DAI | $3,602,358,697 | Crypto | USD | Go to Dai |
 sUSDS sUSDS | $2,417,607,358 | Crypto | USD | Go to sUSDS |
 First Digital USD FDUSD | $1,508,276,594 | Fiat | USD | Go to First Digital USD |
 PayPal USD PYUSD | $957,051,256 | Fiat | USD | Go to PayPal USD |
 Tether Gold XAUT | $847,438,051 | Precious metals | XAU | Go to Tether Gold |
 PAX Gold PAXG | $837,206,739 | Precious metals | XAU | Go to PAX Gold |
How to get stablecoins
Save with stablecoins
Stablecoins often have an above-average interest rate because there’s a lot of demand for borrowing them. There are dapps that let you earn interest on your stablecoins in real time by depositing them into a lending pool. Just like in the banking world, you're supplying tokens for borrowers but you can withdraw your tokens and your interest at any time.
Interest-earning dapps
Put your stablecoin savings to good use and earn some interest. Like everything in crypto, the predicted Annual Percentage Yields (APY) can change day-to-day dependent on real-time supply/demand.
Aave
Markets for lots of stablecoins, including Dai, USDC, TUSD, USDT, and more.
Compound
Lend stablecoins and earn interest and $COMP, Compound's own token.
Summer.fi
An app designed for saving Dai.
Spark Protocol
A protocol for lending and borrowing on Ethereum supporting many stablecoin options.
How they work: types of stablecoin
Fiat backed
Pros
- Safe against crypto volatility.
- Changes in price are minimal.
Cons
- Centralized – someone must issue the tokens.
- Requires auditing to ensure company has sufficient reserves.
Learn more about stablecoins
Dashboard & Education
GoStablecoins.wtfStablecoins.wtf offers a dashboard with historical market data, statistics, and educational content for the most prominent stablecoins.
GoStablepulseProvides a clear, accurate, and minimally filtered view of the stablecoin ecosystem with analytics across tokens and chains.
GoStables.infolive stablecoin leaderboard and dashboard, tracking supply and onchain data for all major stablecoins and chains.
GoDune Stablecoin MetricsDashboard delivering real-time insights into stablecoin supply, liquidity, trading volume, and adoption across blockchains.
GoVisa Onchain AnalyticsDashboard visualizing the movement, supply, and usage of fiat-backed stablecoins across public blockchains.
GoStablewarsAnalytics leaderboard and dashboard, tracking balances, transfers, and rankings for stablecoins across multiple blockchains.