The tokens that hold a fixed value: how each type is backed, which issuers dominate the market, what happens when a peg breaks, and how stablecoin borrowing and lending works.
A stablecoin is a token designed to hold a fixed value, almost always one US dollar. What separates the designs is what stands behind the peg, and what happens to redemption when the market stops believing it.
6 min read · reviewed
Two tokens account for about 85 percent of stablecoin supply, and the rest of the market is a long tail of bank-issued, protocol-issued and yield-bearing alternatives. The figures below were observed on 8 September 2026 and move constantly.
5 min read · reviewed
Yes, and stablecoin lending is the largest activity in DeFi by deposits. Supplying earns the rate borrowers pay, borrowing requires collateral worth more than the loan, and the risks are bad debt, depegs and being unable to withdraw when a pool is fully lent.
6 min read · reviewed
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