Based on Cryptoslate, 65% of all stable coins run on the Ethereum blockchain.
It shouldn’t be surprising because it is far easier to launch a stablecoin on Ethereum than on other blockchains.
How stable are stablecoins?
According to The Stablecoin Index, most are pretty close to $1 “most” of the time. The screenshot below shows the deviation in the past week which, ignoring the upper and lower extremes, ranges from 1.008 to 0.9971. That is pretty good.
Here is a brief timeline of the birth of various stablecoins.
- Tether – Launched in July 2014 as Realcoin before changing their name to Tether in Nov 2014.
- Nu (Nubits.com), September 2014. Currently trading at $0.087. Failed.
- Corion October 2017
- MakerDAO, Dec 2017
- TrueUSD, Mar 2018,
- CarbonUSD, Sep 2018, first on EOS
- Gemini Dollar, Oct 2018
- USD Coin, Oct 2018 , Sep 26 2018, (From CENTER with founding members of Circle and Coinbase)
- Paxo, Oct 2018
- Alchemint, Sep 2018
- HonestCoin, USDH, Bitcoin Cash Network , Jun 2019, (https://news.bitcoin.com/honestnode-founder-discusses-the-first-stablecoin-built-on-bitcoin-cash/)