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The COIN IPO and Supply Expansion - Stablecoin Report - April 18th 2021

The top 5 stablecoins are worth $73 billion dollars in market capitalization, a staggering growth of 11% over the previous week. They have added $7.69 billion in market capitalization in the last week. The total crypto market cap touched $2.3 trillion dollars this week before pulling back to 2.1 trillion.

This is the week Coinbase held it's Initial Public Offering. Many coins saw new all time highs this week, including Bitcoin, Ethereum, and Dogecoin. Action in the stablecoin space centered around the 3 major stablecoins - USDT, USDC, and BUSD. They indicate robust inflows of cash, and even with the BTC correction from it's ATH this week money has stayed invested in cryptos.

The new stablecoins seen last week, FEI and LUSD on Ethereum, have had very different trajectories. The algorithmic stablecoin FEI protocol dropped from $1.6 billion in market cap to $1.4 billion, and has never held peg. So far, the only functional algorithmic stablecoin seems to be Terra's UST. In general, we would say to avoid investment in new algo stablecoins until they're proven. There are far more opportunities out there than a new stablecoin!

Liquity USD (LUSD) stacked up impressive market value (1.2 Billion) and is close to flipping FEI. LUSD acts as a much less costly DAI, allowing users to lock ether, pay 0% interest, and have a collateral ratio as low as 110% (DAI costs between 3-5% and has a collateralization of around 150% usually).

Our stablecoin leaderboard is below. To learn more about stablecoin earning opportunities, read our article on the subject. This is not financial advice, please do your own research before investing in projects.

BSC Gateway Stablecoin Leaderboard

SymbolNameMarket Cap1 Week ChangeCurrent Price1 Year Low1 Year HighRecommendation
SymbolNameMarket Cap1 Week ChangeCurrent Price1 Year Low1 Year HighRecommendation
USDTTether USD48.7 Billion+4.2 B$0.9950.9811.01Use With Caution
USDCUSD Coin12.7 Billion+1.6 B0.9960.981.01Safe
BUSDBinance USD6.43 Billion+1.5 B0.9980.9071.15Safe
DAIMulti-Collateral DAI3.43 Billion+310 M0.9970.991.04Safe
USTTerra USD1.82 Billion+80 M0.9880.9281.09Use with Caution
FEIFEI Protocol$1.4 Billion- 240 M0.713600 0.669435 0.977261Avoid
LUSDLiquity USD$1.23 Billion +961 M1.01 0.9529151.16Use with Caution
sUSDSynthetix USD215 Million-34 M1.010.971.11Use with Caution
VAIVai179 million+7 M0.9225710.57921.20Avoid
BDObDollar35 million-2 M0.5654170.48006914.70Avoid
DittoDitto4.9 million-0.3 M1.00.4392.88Avoid
QUSDQian USD743 thousand?0.97620.071.52Avoid