Stablecoin pegs
14 stablecoins worth $293.75B together. Legacy Frax Dollar is off the peg by 0.7% for more than 7 days; the rest are holding theirs. More than 0.5% (50 basis points) from its peg counts as off it, 1.5% for gold.
| Stablecoin | Price | Off the peg | 24h range | 7d range | Market cap | Supply, 7d | State | Depeg alert |
|---|---|---|---|---|---|---|---|---|
Issued by Tether. Reserves are mostly US Treasury bills, with gold, bitcoin and loans making up the rest. | verified on-chain$0.9998peg $1.0000 | −2 bpsChainlink −3 bps | $0.9997–$1.0000 | $0.9991–$1.0000 | $183.44B | +0.02% | Holding the peg | |
Issued by Circle. Backed by cash and short-term US Treasuries, with monthly reserve reports. | verified on-chain$0.9999peg $1.0000 | −1 bpsChainlink −1 bps | $0.9998–$0.9999 | $0.9995–$1.0001 | $75.28B | +2.25% | Holding the peg | |
Sky’s successor to DAI, minted against the same collateral and swappable 1:1 with it. | $0.9999peg $1.0000 | −1 bps | $0.9997–$1.0001 | $0.9992–$1.0003 | $9.59B | +0.27% | Holding the peg | |
Ethena’s dollar: staked ether and bitcoin, hedged with short futures positions. | $0.9997peg $1.0000 | −3 bps | $0.9994–$0.9999 | $0.9990–$1.0001 | $4.89B | +3.49% | Holding the peg | |
Minted against crypto collateral locked with Sky (formerly Maker), much of it other stablecoins. | verified on-chain$1.0000peg $1.0000 | 0 bpsChainlink −2 bps | $0.9998–$1.0000 | $0.9997–$1.0002 | $4.61B | +0.58% | Holding the peg | |
Issued by World Liberty Financial. Reserves of Treasuries and cash are held by BitGo. | $0.9994peg $1.0000 | −6 bps | $0.9992–$0.9995 | $0.9989–$0.9998 | $4.39B | +1.13% | Holding the peg | |
Issued by Paxos for the Global Dollar Network. Backed by cash and short-term Treasuries. | $1.0001peg $1.0000 | +1 bps | $0.9999–$1.0001 | $0.9998–$1.0001 | $3.27B | −0.13% | Holding the peg | |
Issued by Paxos for PayPal. Backed by US dollar deposits, Treasuries and repos. | $0.9999peg $1.0000 | −1 bps | $0.9998–$1.0001 | $0.9990–$1.0003 | $2.83B | +0.53% | Holding the peg | |
Issued by Ripple. Backed by US dollar deposits, short-term Treasuries and cash equivalents. | $1.0000peg $1.0000 | 0 bps | $0.9999–$1.0001 | $0.9998–$1.0002 | $2.43B | +3.49% | Holding the peg | |
Launched by the TRON DAO Reserve. Backed by crypto collateral such as TRX and other stablecoins. | $0.9980peg $1.0000 | −20 bps | $0.9980–$0.9989 | $0.9978–$0.9995 | $1.52B | +0.32% | Holding the peg | |
TrueUSD, issued by Techteryx. Backed by US dollar reserves held with custodians. | $0.9998peg $1.0000 | −2 bps | $0.9994–$0.9999 | $0.9986–$0.9999 | $494.38M | 0.00% | Holding the peg | |
Circle’s euro coin. Backed by euro cash and deposits held at banks. | €0.9968peg €1.0000 | −32 bps | ≈ €0.9968–€1.0011 | ≈ €0.9968–€1.0069 | $465.58M | −1.26% | Holding the peg | |
Issued by First Digital in Hong Kong. Backed by cash and short-term US Treasuries. | $0.9996peg $1.0000 | −4 bps | $0.9987–$0.9996 | $0.9976–$0.9996 | $324.9M | −0.40% | Holding the peg | |
Frax Finance’s dollar. It started out partly algorithmic and has been fully collateralised since 2023. | $0.9926peg $1.0000 | −74 bps | $0.9917–$0.9934 | $0.9900–$0.9937 | $217.69M | 0.00% | Off the peg by 0.7% for more than 7 days |
Prices refresh every few minutes. Data provided by CoinGecko · Reference rates: European Central Bank
How to read the table
- Off the peg
- The market price’s distance from the peg in basis points: 100 bps is 1%. For USDT, USDC and DAI, the Chainlink feed’s reading is shown under it.
- State
- How long a coin has been off its peg counts from the first hourly price outside the band, and the time it began is shown underneath in UTC.
- Ranges
- The lowest and highest prices over 24 hours and 7 days, from hourly prices. ≈ marks euro and gold coins, whose past prices we convert at today’s rate.
- Supply, 7d
- The change in circulating supply over a week. est. means we worked it out from market cap ÷ price, because the data provider gives no supply for that coin.
Get told when a peg breaks
Depeg alerts come with every account, including the free one. Choose a stablecoin and how many basis points off its peg should count, and we send one alert per break by email, Slack or Discord (Telegram from Plus). After firing, an alert waits until the coin has held its peg for an hour before it can fire again, so a recovery that wobbles does not flood your inbox.
Create a depeg alertQuestions
When does a stablecoin count as off its peg?
When its market price is more than 0.5% (50 basis points) away from the value it tracks: $1 for a dollar coin, €1 for a euro coin. Gold coins get 1.5%, because we hold a gold price once a day while the coins trade all day. The table says how far off a coin is, and for how long, from its hourly prices over the last week.
What is a basis point?
One hundredth of a percent: 100 basis points (bps) is 1%. A dollar stablecoin trading at $0.9950 is 50 bps below its peg.
Where do the prices come from?
The market price is CoinGecko’s, refreshed every few minutes. For USDT, USDC and DAI we also read the Chainlink price feed on Ethereum and show its deviation underneath. A Chainlink feed only updates when the price moves past a set threshold or its heartbeat comes round, so a small gap between the two figures is normal.
How is the supply change worked out?
We record each coin’s circulating supply every day and compare today’s figure with the one from 7 days before. Where the data provider gives no circulating supply, we use market cap divided by price and mark the change est. A shrinking supply usually means holders are redeeming coins with the issuer.
How are euro and gold coins measured?
Against the exchange rates we store: the European Central Bank’s reference rate for the euro, and a gold price where one of our rate sources publishes it. We keep no history of those rates, so past prices are converted at today’s rate. That is why the ranges of euro and gold coins are marked ≈: they include the currency’s own moves over the week.
Can I get an alert when a stablecoin loses its peg?
Yes, on every plan including the free one. Choose a stablecoin and how many basis points off its peg should count, and we tell you once per break, not on every price tick: the alert waits until the coin has held its peg for an hour before it can fire again. Create a free account to set one up.