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Forbes
7 hours ago
- Business
- Forbes
Top 5 Stablecoins By Market Cap And How To Use Them
Stablecoins are a growing force in digital finance, offering price stability, global access and use ... More across trading, payments, savings and decentralized apps. Over the past twelve months, stablecoins have quietly taken a central role within digital assets, powering everything from trading platforms to cross-border payments. Their popularity is rapidly growing, with daily trading volumes exceeding $135 billion. Designed to maintain a consistent value, these digital assets offer stability in an otherwise volatile crypto market. Understanding how stablecoins function and their practical applications is vital for anyone engaging with digital assets, regardless of experience level. This guide examines the five largest stablecoins by market capitalization, highlighting their key features, peg mechanisms and everyday use cases across trading, payments, savings and decentralized finance. Top 5 Stablecoins By Market Cap 1. Tether (USDT) Market Cap: $155,497,490,891.47 Tether's USDT is the largest and most widely used stablecoin in the digital asset market, with a market capitalization exceeding $155 billion. Launched in 2014, it was the first stablecoin to peg its value to a fiat currency, aiming to provide price stability in crypto's volatile environment. Each USDT token is designed to maintain a 1-to-1 value with the U.S. dollar and is backed by reserves held by Cantor Fitzgerald on behalf of Tether. USDT operates across multiple blockchains, including Ethereum, Tron and Solana, allowing for broad compatibility and high transaction speed. Its large circulating supply and liquidity have made it the most common stablecoin in crypto markets. It is often used to facilitate trading and as a settlement layer on centralized and decentralized exchanges. Traders, institutions and exchanges frequently turn to USDT for its utility in moving funds quickly while avoiding exposure to market volatility. In addition to trading, it is widely used in remittances, payments and DeFi protocols. 2. USD Coin (USDC) Market Cap: $61,560,697,675.35 USD Coin, or USDC, is a U.S. dollar-backed stablecoin issued by Circle Internet Group. Since USDC's launch in 2018 in partnership with Coinbase. The two companies have become more operationally distinct, though they continue collaborating in several areas. Like USDT, USDC is pegged 1-to-1 with the U.S. dollar and is designed to offer price stability and efficient digital transactions. Circle Internet Group went public on June 5, 2025, with a highly anticipated debut on the New York Stock Exchange. Shares of Circle Internet Group surged 168% on the first day of trading, opening at $69 after pricing at $31 and briefly reaching a high of $103.75. As of June 2025, USDC has a market capitalization of over $61.5 billion, making it the second-largest stablecoin globally. To ensure transparency, Circle publishes monthly proof-of-reserves reports verified by Deloitte, confirming that USDC is fully backed by cash and short-term U.S. Treasuries. USDC has seen consistent adoption due to its strong regulatory posture and support from licensed financial institutions. It is natively supported on 21 blockchain networks, allowing broad cross-chain functionality. This interoperability enhances its appeal as a settlement and payment layer across centralized and decentralized platforms. Its primary use cases include instant global payments, on-chain savings, and participation in DeFi. USDC is frequently used in liquidity pools, lending protocols and as collateral in crypto-native financial products. Due to its speed and low cost, businesses and governments have adopted it for payroll, cross-border aid distribution and donation transfers. USDC's robust infrastructure and regulatory alignment have helped it maintain trust in the stablecoin market. 3. Ethena (USDe) H2 Market Cap: $5,598,667,422.74 Ethena's USDe is a variant stablecoin that aims to stay close to the value of one U.S. dollar. Unlike traditional stablecoins backed by cash or government bonds, USDe is backed by several types of crypto and uses a strategy called 'delta hedging' to reduce price swings. It has a market cap of over $5 billion, making it one of the market's fastest-growing hybrid, or 'synthetic dollar', stablecoins. To mint, or create, USDe, users deposit crypto, such as USDT, automatically triggering the protocol to open a short position on a derivatives exchange. This helps cancel out price changes in the backing asset, keeping USDe stable. The crypto backing USDe stays in a secure, off-exchange wallet to lower the risk of hacks or losses from centralized platforms. USDe is commonly used in DeFi for payments and savings. Users can stake USDe to receive 'sUSDe', a yield-bearing version that earns rewards. In 2024, sUSDe offered an average return of around 18%, making USDe attractive to those seeking both price stability and passive income. While USDe offers notable growth potential and distinctive features, it also involves certain risks. It relies on complex trading strategies and centralized exchange infrastructure, and its audits are not fully disclosed to the public. Governance is conducted by committees appointed by ENA tokenholders rather than through direct community voting, which limits participatory decentralization. 4. Dai (DAI) Market Cap: $5,365,206,077.53 Founded in 2017, Dai is considered the original decentralized stablecoin. It is issued by MakerDAO, a decentralized autonomous organization built on the Ethereum blockchain. Dai aims to maintain a soft peg to the U.S. dollar without relying on a central authority or traditional banks. Instead of being backed by fiat, it is supported by overcollateralized debt positions using Ethereum and other approved crypto assets. Users generate Dai by locking collateral into smart contracts known as Vaults. DAI's supply is dynamically managed through user activity and risk parameters voted on by MakerDAO token holders. These holders help set interest rates, collateral types and key settings. In late 2024, MakerDAO announced a major brand change. The MakerDAO protocol rebranded as Sky, and the DAI stablecoin was rebranded as USDS to reflect its position as a U.S. dollar-denominated asset in the evolving digital economy. DAI is widely used in DeFi for borrowing, lending and trading. Its price stability makes it a reliable tool for hedging against market volatility, earning yield through DeFi protocols, and facilitating cross-border payments. Traders and developers also use it as a stable unit of account in smart contracts and decentralized applications. DAI emphasizes transparency and permissionless access because it is crypto-backed and governed by a decentralized community. Its design has helped establish it as a foundational asset in the broader DeFi ecosystem. 5. World Liberty Financial USD (USD1) Market Cap: $2,193,926,396.53 World Liberty Financial's stablecoin, USD1, also called WLF USD, is a stablecoin pegged 1:1 to the U.S. dollar. USD1 launched in April of 2025 under the Trump family's World Liberty Financial platform. With a current market cap just over $2.1 billion, USD1 positions itself as a fully backed, stable digital dollar 'for a new era.' Its reserves consist of short-term U.S. Treasuries, dollar deposits, and other cash equivalents, all custodied and managed by BitGo, a federally registered money services business and trust company. Much like USDT and USDC, USD1 prioritizes speed, transparency and global accessibility. Transactions settle on-chain and are supported across multiple blockchain networks. USD1 drew significant attention at Token2049 in May of 2025, when Eric Trump announced that USD1 would facilitate MGX, an Abu Dhabi-based investment firm's $2 billion investment in Binance. While World Liberty Financial and BitGo stated that USD1 is fully backed and subject to monthly audits, reserve reports have not been publicly released. USD1's use cases are parallel to those of other stablecoins. They include cross-border payments, business settlements and integration with DeFi applications. Though marketed as apolitical, public disclosures show that entities linked to U.S. President Donald J. Trump and his family hold indirect economic interests in the reserve earnings. Most Popular Stablecoin Use Cases Stablecoins are used in many real-world applications, offering speed, cost efficiency and global accessibility. Peer-to-peer payments were among their earliest and most impactful use cases, especially in emerging markets facing currency instability, limited banking infrastructure or high remittance fees. Now, users across the globe rely on stablecoins for everyday transactions. Their low fees and speed make them ideal for both high-value transfers and lightweight, frequent payments. Businesses use stablecoins for cross-border payments, supplier settlements and treasury management. Stablecoin-linked cards are growing, with usage patterns similar to traditional debit and credit cards. Although thousands of tokens exist, market capitalization data shows that Tether's USDT and Circle Internet Group's USDC lead the sector. Others like Ethena's USDe, MakerDAO's DAI, and World Liberty Financial's USD1 each hold less than $6 billion in value. This concentration reflects the small number of issuers' dominant role in global stablecoin activity. Using Stablecoins Safely And Effectively To use stablecoins securely, it's essential to start with a reliable wallet. Non-custodial wallets give users full control over their private keys, while custodial wallets may be easier for beginners but carry more custodial risk. Users can also opt for hardware wallets to store keys offline and reduce exposure to online threats for added protection. Stablecoins can be used across payment apps, DeFi protocols and exchanges. Still, not all platforms offer equal safety. Use audited DeFi apps, verified tokens and platforms with strong security. Avoid copycat tokens, phishing sites and unverified protocols. Double-check contract addresses, avoid unknown transactions, and consider splitting funds across wallets. For all stablecoins, trusted infrastructure and basic cybersecurity help protect assets. Bottom Line Stablecoins are a growing force in digital finance, offering price stability, global access and use across trading, payments, savings and decentralized apps. The top five by market cap represent models ranging from fiat-backed to hybrid models. While USDT and USDC dominate, newer options like USDe and USD1 are gaining traction through innovative features and business use. To use stablecoins safely, it is paramount to select reputable wallets, understand the risks associated with different platforms, and remain aware of potential scams or technical vulnerabilities. When used with appropriate caution, stablecoins can be useful for transactions, yield generation and interacting with decentralized protocols. Frequently Asked Questions (FAQs) Which Stablecoin Has The Highest Market Cap? Tether (USDT) currently has the highest market cap among all stablecoins, exceeding $155 billion as of June 2025. It is the most widely used stablecoin across both centralized and decentralized platforms. Are Stablecoins Safe To Use? Stablecoins can be safe, but risks vary by coin. Are Stablecoins Legal? Yes, stablecoins are legal in many countries, but regulations vary widely by jurisdiction. Users should check local laws and stay informed about evolving regulatory guidance. What Should I Examine Before Using A Stablecoin? Before using a stablecoin, examine how it is backed, who issues it, and whether it is audited or regulated.
Yahoo
9 hours ago
- Automotive
- Yahoo
Rivian Maintains Overweight Rating After $1.25B Green Debt Refinance Announcement
Rivian Automotive Inc. (NASDAQ:RIVN) is one of the best consumer cyclical stocks to buy. On June 16, Cantor Fitzgerald maintained its Overweight rating and $15 price target on Rivian Automotive Inc. (NASDAQ:RIVN). This follows the company's recent debt refinance announcement. Rivian Automotive Inc. (NASDAQ:RIVN) stated on June 2 that it would raise $1.25 billion through a private offering of green notes that are due in 2031. The notes would be secured by its New Horizon assets and guaranteed by company assets when the Department of Energy funding is obtained. The company plans to use the proceeds of this capital transaction in addition to its current cash reserves to fully repay its current $1.25 billion floating-rate notes that mature on October 15, 2026. Separately, Rivian Automotive Inc. (NASDAQ:RIVN) has considered selling high-yield bonds under the direction of JPMorgan in order to generate up to $2 billion for the refinance of its debt maturing in 2026. Rivian Automotive Inc. (NASDAQ:RIVN) is an automotive company that specializes in the design, development, production, and distribution of electric vehicles and associated accessories. While we acknowledge the potential of RIVN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None.
Yahoo
15 hours ago
- Business
- Yahoo
Cantor Fitzgerald Raised The PT on Lam Research (LRCX), Maintains a Buy Rating
Lam Research Corporation (NASDAQ:LRCX) is one of the . On June 24, Cantor Fitzgerald raised the firm's price target on Lam Research Corporation (NASDAQ:LRCX) from $90 to $115, while keeping an Overweight rating on the stock. The increased price target is based on the firm's research which suggests a modestly improved wafer fab equipment market in 2025. The firm noted that Cantor Fitzgerald's industry checks suggest a modest improvement in the WFE sector for calendar year 2025, primarily driven by demand from domestic China. This suggests that 2026 will be another year of growth for the sector, thereby presenting growth opportunities for Lam Research Corporation (NASDAQ:LRCX) as well. Cantor Fitzgerald believes the sector is largely immune to tariff-related issues and expects the consensus estimates for the semiconductor equipment group to move significantly higher. A technician operating an automated semiconductor processing machine with laser accuracy. In Q3 2024, the company posted revenue of $4.72 billion, reflecting a 24.43% year-over-year increase. The revenue topped estimates by $79.9 million with EPS of $1.40 exceeding expectations by $0.04. China remained a major contributor to Lam Research Corporation (NASDAQ:LRCX)'s revenue, with China's revenue forming 31% of its total revenue. Lam Research Corporation (NASDAQ:LRCX) is a leading global supplier of wafer fabrication equipment and services used in the semiconductor industry to manufacture integrated circuits. While we acknowledge the potential of LRCX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
17 hours ago
- Business
- Yahoo
Cantor Fitzgerald Raises PT on Uber (UBER) to $106 From $96, Keeps an Overweight Rating
Uber Technologies, Inc. (NYSE:UBER) is one of the 13 Best Long Term Growth Stocks to Invest in Right Now. On June 25, Cantor Fitzgerald raised the firm's price target on Uber Technologies, Inc. (NYSE:UBER) to $106 from $96, keeping an Overweight rating on the shares. The firm acknowledged that the near-term drivers of the company's share price performance include autonomous vehicle developments from Waymo, Tesla, and other third-party partners. A close up view of a hand holding a smartphone, using a ride sharing app. However, it also stated that the primary focus in regard to the fundamentals remains on Uber Technologies, Inc.'s (NYSE:UBER) ability to sustain rides and bookings growth in the core mobility business. Cantor further stated that Uber Technologies, Inc. (NYSE:UBER) holds 'plenty of irons in the fire' to support and sustain mobility rides growth. The firm exhibited increasing confidence in Tesla's recent Robotaxi rollout in limited scope, stating that autonomous vehicle volumes are likely to take a number of years before they begin to exert a notable weight in the rideshare industry. Uber Technologies, Inc. (NYSE:UBER) is a multinational transportation company that offers ride-hailing services, courier services, food delivery, and freight services. While we acknowledge the potential of UBER as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 hours ago
- Business
- Yahoo
Cantor Fitzgerald Reiterates a Hold Rating on Alphabet (GOOG)
Alphabet Inc. (NASDAQ:GOOG) is one of the 13 Best Long Term Growth Stocks to Invest in Right Now. In a report released on June 25, Deepak Mathivanan from Cantor Fitzgerald reiterated a Hold rating on Alphabet Inc. (NASDAQ:GOOG) with a price target of $171.00. The company's fiscal Q1 2025 results showed a 12% year-over-year growth in consolidated revenues to $90.2 billion, with double-digit growth rates reported in Google Search & other, YouTube ads, Google subscriptions, platforms, and devices, as well as Google Cloud. Net income for the quarter rose 46%, and EPS grew 49% to $2.81. A laptop and phone open to Google's services in an everyday setting. Alphabet Inc. (NASDAQ:GOOG) also reported a 28% rise in Google Cloud revenues to $12.3 billion, attributed to growth in Google Cloud Platform (GCP) across core GCP products, AI Infrastructure, and Generative AI Solutions. Alphabet Inc. (NASDAQ:GOOG) is a holding company with segments including Google Services, Google Cloud, and Other Bets. The Google Services segment operates various services and products, including Android, Google Maps, Google Play, Chrome, Search, and YouTube. While we acknowledge the potential of GOOG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
