Top 10 Stablecoins to Know in 2024

Top 10 List of Stablecoin in 2023

Stablecoins have become incredibly popular in 2024 as they serve as a bridge between traditional fiat currencies and cryptocurrencies. They offer the reliability of fiat money while still enjoying the perks of cryptocurrencies, like speedy cross-border transactions without relying on banks. In this article, we’ll provide a top 10 list of stablecoins that are leading the way in 2024, discussing their unique types and explaining why they’ve gained so much attention.

These stablecoins are gaining traction because they provide a sense of stability in a volatile crypto market. They’re essentially digital tokens that are backed by assets like US dollars or commodities, ensuring their value doesn’t fluctuate wildly. This makes them a practical choice for both everyday transactions and as a store of value, making it easier for people to embrace cryptocurrencies in their daily lives. So, let’s dive into the list of stablecoins and explore the factors behind their rising popularity in the crypto world.

The Rise of Stablecoins

The Rise of Stablecoins

Stablecoins have been gaining significant traction in the world of cryptocurrencies, addressing a persistent concern among skeptics: price volatility. These digital assets, which are primarily linked to the value of the US dollar, offer a reliable and stable value, making them an appealing entry point for newcomers to the crypto space. In fact, stablecoins have seen a surge in popularity due to their crucial role in crypto exchanges that do not support traditional fiat currencies.

They act as a sort of bridge, providing liquidity and essentially taking on the functions typically associated with fiat money. This list of stablecoins continues to grow, providing users with a wide array of options to choose from, further cementing their position in the crypto ecosystem.

Also Read: Top 15 Crypto Mining Platforms to Look Out in 2024

As more individuals explore the cryptocurrency market, stablecoins serve as a dependable means of engaging with digital assets without the rollercoaster-like price fluctuations often associated with cryptocurrencies like Bitcoin or Ethereum. Their stability makes them a practical choice for transactions, investments, and as a store of value.

Moreover, stablecoins have stepped up to the plate in exchanges where fiat currencies are not supported, making them essential liquidity indicators and essentially replacing the need for traditional fiat money. This evolution in the crypto landscape demonstrates the enduring relevance and utility of stablecoins in the ever-expanding world of digital currencies.

Types of Stablecoins

Stablecoins vary based on the assets they are pegged to. The primary categories include:

1. Fiat backed stablecoins

Fiat-backed stablecoins are a type of digital currency that’s directly tied to regular money, such as the US Dollar or Euro. To put it simply, for every stablecoin you have on the list of stablecoins, there’s actual real money securely held in reserve.

This connection to real-world currency helps keep the value of these stablecoins steady and reliable, making them a trustworthy option for those looking to use digital assets that won’t fluctuate wildly in value.

2. Crypto backed stablecoins

Crypto-backed stablecoins, which are part of the list of stablecoins, differ from traditional ones by using cryptocurrencies like Bitcoin or Ethereum as collateral to maintain their value. Instead of relying on conventional fiat currencies, these stablecoins leverage smart contracts and algorithms to ensure stability.

This means that the value of these digital coins remains anchored to the cryptocurrency assets they are backed by, providing a novel approach to achieving price stability in the volatile world of cryptocurrencies.

3. Algorithmic stablecoins

This type operates without the need for physical assets as a safety net. Instead, they harness intricate computer algorithms to manage the balance between supply and demand in an effort to maintain a stable value. However, it’s important to note that these algorithm-reliant stablecoins, part of the list of stablecoins, can exhibit some degree of volatility, largely contingent on the effectiveness of the underlying algorithmic mechanisms.

4. Commodity backed stablecoins

Commodity-backed stablecoins are a type of cryptocurrency that’s linked to real-world assets like gold or oil. The main concept behind these stablecoins, which you’ll find in the list of stablecoins, is that their value is supposed to match the value of the actual commodity they’re tied to.

So, if you own one of these stablecoins, it’s sort of like having a digital representation of that specific commodity, making it more stable and less prone to the price fluctuations often seen in other cryptocurrencies.

Top 10 List of Stablecoin to know in 2024

Top 10 List of Stablecoin

In the ever-changing world of cryptocurrencies in 2024, it’s crucial to find solid ground amid all the ups and downs. Let’s take a closer look at the Top 10 list of Stablecoins that have proven to be the rock-solid foundations, providing stability and trust in the midst of a crypto market known for its wild swings. These digital currencies have not only survived the volatile market but have also gained the confidence of investors from around the globe.


Hela Chain’s native stablecoin, known as HLUSD, plays a pivotal role in its ecosystem by maintaining a strong 1-to-1 peg with the US Dollar, thanks to the backing of fiat reserves securely held by a regulated Australian financial institution. This setup ensures transparency and builds trust among users. Within the Hela Chain network, all transactions, including those involving smart contracts and fees, are exclusively conducted using HLUSD.

This not only simplifies fee management but also reduces the volatility often associated with cryptocurrencies. HLUSD is a cornerstone of Hela Chain’s mission to create a secure and user-friendly blockchain platform that bridges the gap between traditional finance and the decentralized world, making it a valuable addition to the list of stablecoins in the crypto space.

2. Tether (USDT)

A well-established stablecoin that made its debut in 2014. It has maintained its popularity and is often found among the top 5 cryptocurrencies by market cap in the list of stablecoins. USDT is designed to be tethered to the US dollar at a 1:1 ratio, which means that for every USDT token in circulation, there should be an equivalent amount of US dollars held in reserve. Nevertheless, there have been instances where concerns were raised regarding the transparency of these backing claims, raising questions about the stability of the stablecoin.

3. USD Coin (USDC)

USDC, short for USD Coin, is a type of cryptocurrency that’s gained recognition as one of the leading stablecoins in the ever-growing list of stablecoins. It’s a joint effort from Coinbase and Circle, two trusted names in the cryptocurrency world. What sets USDC apart is its solid backing, supported by reserves of fiat money and US treasuries, making it a secure and stable choice for investors.

As we head into 2023, many experts are keeping a close eye on USDC, expecting it to remain a prominent and reliable investment option, thanks in no small part to Coinbase’s well-established reputation in the industry.

4. Binance USD (BUSD)

Binance USD (BUSD) is one of the popular stablecoins on the market, designed to maintain a 1:1 value with the US dollar. It’s created by Binance, one of the biggest cryptocurrency exchanges globally, known for its high trading activity. BUSD’s substantial market capitalization ranks it in the top ten cryptocurrencies on the list of stablecoins, offering users a reliable digital asset option closely tied to the value of the US dollar.

5. True USD (TUSD)

True USD (TUSD), which was introduced in 2018, belongs to the list of stablecoins. It’s unique in that it’s backed by assets stored in different bank accounts, assuring a stable 1:1 value with the US dollar. TUSD has steadily secured its place among the top 50 cryptocurrencies over the years.

6. Dai (DAI)

A prominent cryptocurrency in the list of stablecoins. Unlike regular cryptocurrencies, DAI stands out as a stablecoin, which means it’s designed to maintain a steady value, making it a reliable choice for digital transactions. Its uniqueness lies in being collateralized by Ethereum-based tokens, which means it’s backed by assets stored on the Ethereum blockchain.

Developed by the Maker DAO organization, DAI has earned its place as one of the most significant cryptocurrencies in terms of market capitalization, offering users a stable and secure option for their digital financial needs.

7. Magic Internet Money (MIM)

Abracadabra Money’s crypto lending platform introduced Magic Internet Money (MIM) back in 2021, and it quickly became a notable addition to the list of stablecoins. MIM is designed to have a soft peg to the US dollar, aiming to maintain a steady value of around $1. Since its launch, MIM has generally succeeded in holding its value close to this mark, making it a reliable choice in the world of cryptocurrencies for those seeking stability in an often-volatile market.

8. Neutrino USD (USDN)

USDN, short for Neutrino USD, was once firmly tied to the value of the US dollar, but in 2022, it underwent a significant change when it got unpegged. This change didn’t diminish its appeal, though, as it continues to be a favorite among users. One key reason for its enduring popularity is its versatile applications, including serving as part of a decentralized forex platform. When you’re looking at the list of stablecoins, USDN stands out as a top algorithmic stablecoin with a unique history and a bright future.

9. Decentralized USD (USDD)

In 2022, Tron unveiled a new type of stablecoin known as Decentralized USD (USDD), which has gained popularity and now holds a place among the top 50 cryptocurrencies on the list of stablecoins. USDD stands out because it’s partially driven by algorithms and supported by collateral from the TRON DAO Reserve. This innovative stablecoin provides a reliable and secure option for those seeking stability in the ever-volatile world of cryptocurrencies.

10. Pax Gold (PAXG)

PAX Gold (PAXG) is a special kind of stablecoin known as a “gold-backed stablecoin,” and it has gained significant popularity, earning a spot in the list of stablecoins ranked among the top 100 cryptocurrencies. What sets PAXG apart is its unique backing by physical gold, harkening back to the traditional practice of tying currency to tangible assets like gold. This means that for every unit of PAXG in circulation, there’s an equivalent amount of real gold stored securely, offering a sense of stability and value in the world of digital currencies.

Each of these stablecoins offers unique features and benefits, catering to various needs within the crypto community. Whether pegged to traditional fiat currencies, other cryptocurrencies, or commodities, they provide stability in an otherwise volatile market.

What is Stablecoin in Crypto?

Why Invest in Stablecoins

Stablecoins is a smart move for folks who want a safer bet in the often rollercoaster world of cryptocurrencies. These stablecoins are like the calm harbor amidst the stormy sea of crypto volatility. Unlike those wild price swings you hear about with other cryptocurrencies, stablecoins tend to stay steady because they’re tied to real-world assets like the good old US dollar or other currencies. This makes them a reassuring choice for people who are a bit nervous about the unpredictable crypto market.

Also Read: What is Stablecoin? The Meanings and Varieties

But that’s not all – stablecoins are like a Swiss Army knife for investors. They’re not just a safe haven; they’re also handy for managing risk in a diverse investment portfolio. Imagine having a list of stablecoins in your toolkit that you can rely on when things get choppy in the crypto world.

Plus, they open the door to exciting new possibilities in open banking systems. And for institutions dipping their toes into the crypto waters, stablecoins linked to traditional banks offer a dose of transparency that can be pretty appealing. So, if you want a smoother ride in the crypto world, consider adding stablecoins to your investment strategy.


The crypto market is always changing, and stablecoins are right at the heart of its expansion. They serve as a bridge between the conventional financial system and the world of digital assets, making them incredibly important. It’s essential, though, to emphasize the significance of doing your homework and keeping up with the latest trends when dealing with stablecoins. To make well-informed choices, staying updated is key.

In this ever-evolving landscape, a comprehensive list of stablecoins can be a helpful resource. These digital assets provide stability and serve various purposes within the crypto ecosystem. By understanding and monitoring this list of stablecoins, investors can navigate the crypto market with confidence and adapt to its dynamic nature effectively.

Disclaimer: The information provided by HeLa Labs in this article is intended for general informational purposes and does not reflect the company’s opinion. It is not intended as investment advice or recommendations. Readers are strongly advised to conduct their own thorough research and consult with a qualified financial advisor before making any financial decisions.

Joshua Sorino
Joshua Soriano
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I am Joshua Soriano, a passionate writer and devoted layer 1 and crypto enthusiast. Armed with a profound grasp of cryptocurrencies, blockchain technology, and layer 1 solutions, I've carved a niche for myself in the crypto community.

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