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Stablecoins are cryptocurrencies that are pegged to a fiat currency or traded commodity in the ratio of 1:1. Stablecoins came into existence because of the high volatility that is associated with most cryptocurrencies. Stablecoins serve as a cushion asset in the period of high depreciation in price since they have low volatility.
Least Volatile Stablecoins
Although stablecoins are pegged to fiat currencies like the dollar, euro, and others, they still exhibit some levels of volatility. We shall consider the least volatile stablecoins based on their performance in the past 30 days, 60 days, and 90 days. This consideration is for the top 10 stablecoins according to CoinMarketCap. The price of stablecoins can also fluctuate based on the market volatility of top cryptocurrencies like Bitcoin, Ethereum, and their parent native tokens. Some of the stablecoins with low volatile nature are:
- Tether
- USD Coin
- Binance USD
We shall now discuss them in turns.
1. Tether
Is the number 1 stablecoin based on CoinMarketCap ranking of stablecoins.
Source: https://www.tradingview.com/x/NCjXAeAF/ Tether (USDT) was launched in 2014. The Co-founders of Tether are Brock Pierce, Reeve Collins and Craig Sellars. Tether is denoted with USDT. At the time of writing, Tether (USDT) is trading at $0.9991. The 24-hour trading volume of USDT is $79.6 billion. According to CoinMarketCap, the circulating supply of USDT is 73.27B USDT. The all-time high price of Tether is $1.22 while its all-time low price is $0.5683. The price of Tether (USDT) has decreased by 0.1%, 0.13%, and 0.14% in the past 30 days, 60 days, and 90 days respectively. Some of the top cryptocurrency exchanges for trading stablecoin Tether are Binance, Huobi Global, Kucoin, ByBit, and Gate.io. Tether is multichain and is present on the Bitcoin, Binance Smart Chain, Tron, Ethereum, Algorand, and OMC blockchains.
2. USD Coin
USD Coin is the second rank in the CoinMarketCap ranking of stablecoins. It is one of the least volatile stablecoins in the cryptocurrency market. USD Coin is denoted with USDC in the cryptocurrency market. In the stock market, it is denoted as (CRYPTO: USDC).
Source: https://www.tradingview.com/x/p5qryeVp/ USD Coin was launched in September 2018. It has a Motto “digital money for digital age.” At the time of writing, USDC is trading at $1. The 24-hour trading volume of USDC is $7.45 billion. USD Coin stablecoin has a circulating supply of 53.25B USDC. The all-time high price of USDC is $2.35 while its all-time low price is $0.9292. In the past 30 days, 60 days, and 90 days, the price of USDC has increased by 0.01%, 0.04%, and 0.03% respectively. Some of the top cryptocurrency exchanges for USD Coin are Binance, Kraken, Coinbase, Uniswap (V2), and Kucoin. The major partners that cofounded USD Coin are Circle and Coinbase. USDC is mainly trading with Bitcoin (BTC).
3. Binance USD
Binance USD is denoted with BUSD in the cryptocurrency market. It is ranked in the third position in CoinMarketCap ranking of stablecoins. It is one of the least volatile stablecoins in the market.
Source: https://www.tradingview.com/x/S1IMI4hO/ Binance USD (BUSD) was launched on September 5th, 2019. It has a circulating supply of 18.15B BUSD. At the time of writing, the 24-hour trading volume of BUSD is $7.43 billion. In the past 30 days, 60 days, and 90 days, the price of Binance USD (BUSD) has shown volatility by increasing by 0.04%, 0.04%, and 0.04% respectively. Binance USD is multichain and is present in Binance Smart Chain, Ethereum blockchain, Velas blockchain, Harmony blockchain, and Avalanche blockchain. The all-time high price of BUSD is $1.11 and the all-time low price of BUSD is $0.8861. Binance USD (BUSD) is a stablecoin of the Binance exchange