Ethereum R1 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum

The S&P 500 rose 0.63% Thursday, boosted by strong Meta and Microsoft earnings, but futures slipped Friday as investors awaited the April jobs report and weighed Apple and Amazon tariff concerns. Gold fell to $3,235 as easing trade tensions cut safe-haven demand; markets await US jobs data for rate cut signals. The Coindesk Indices, which tracks the broader crypto market, rose 2.19%, with Bitcoin and Ether up 2.57% and 2.60%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is AR, which gained 16.8% following CloneX's successful migration to Arweave, sponsored by ArDrive.

Arweave (AR), founded in 2017, is a decentralized network for permanent data storage, using blockweave and Proof of Access to ensure long-term accessibility. It offers 200-year storage for a one-time fee, incentivized by AR tokens for miners. The system connects blocks efficiently to preserve and retrieve data, aiming to create a lasting digital knowledge repository. CloneX has successfully 

 to Arweave for permanent storage, with the support of ArDrive, which sponsored the migration of 100 GB of data. The process is nearly complete, with only Animus remaining to undergo decentralization.

Check out the latest prices, charts, and data of 

 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum. Built on open-source code and the Nethermind Surge stack, it emphasizes credible neutrality, public good funding (with all fees burned after 2030), and infrastructure that remains free from VC control or centralized dependencies.

Yesterday, BTC spot ETFs saw $71.1M in total inflows, with $16M from GBTC and $55.1M from other ETFs.

 $BOOP tokens to active Solana memecoin traders and creators who promote memecoins or Solana dapps on X. To claim, users must connect their Solana wallet or X account and launch a free token. The airdrop arrives in 30 days, but growing the token’s market cap can accelerate the reward.

Beginner

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Ethereum R1 offers a decentralized rollup solution for Ethereum

This article dives into Bitcoin liquid staking protocol Lombard Finance, how LBTC works and how you can stake LBTC through Bybit Web3.

Bitcoin stands as the undisputed giant of the cryptocurrency space, commanding the largest market capitalization. Yet, much of its potential remains untapped, often sitting idle as a store of value rather than actively participating in the thriving 

 ecosystem. Lombard Finance aims to change this narrative by unlocking Bitcoin's utility and integrating it seamlessly into DeFi.

Lombard is built upon Babylon, the innovative Bitcoin staking protocol, and is incubated by Polychain Capital. Lombard’s flagship product, 

 (LST) for BTC. This article explores what Lombard Finance is and how LBTC works, and describes the Lombard ecosystem and how you can stake LBTC through Bybit Web3.

 is a liquid staking protocol that focuses on transforming 

's role in the digital economy. Its core mission is to evolve BTC from simply being a store of value — also viewed as 

 — into a productive asset that actively generates yield and participates within DeFi. Currently, a significant portion of Bitcoin's

 sits idle, lacking the native staking capabilities or cross-chain composability seen with assets such as 

Lombard Finance addresses this shortcoming by building on top of 

, a protocol that supports BTC staking without needing 

 or custodians. Babylon allows Bitcoin's economic weight to secure other 

 (PoS) chains and applications, creating a new yield source for holders. Lombard leverages this foundation to offer LBTC, making staked BTC liquid and usable across the DeFi market.

Lombard’s goal is ambitious: to channel Bitcoin's vast liquidity into DeFi. This could potentially double the ecosystem's 

 (TVL) if even a fraction of available BTC is introduced. Lombard believes this integration will catalyze significant growth and create more sustainable market dynamics by making BTC a core, yield-bearing primitive within DeFi.

Founders and investors of Lombard Finance

Lombard Finance was founded in April 2024 by a team with deep expertise within DeFi, drawing talent from established crypto projects like Polychain, Babylon, Argent, Coinbase and Maple. This collective experience underpins the protocol's design and strategic direction.

The project was notably incubated by Polychain Capital, a prominent crypto investment firm that also led Lombard's $16 million seed funding round (which was 

 in July 2024). This round saw participation from a wide array of significant players in the crypto space — including Babylon, dao5, Franklin Templeton, Foresight Ventures, HTX Ventures, Mirana Ventures, Mantle EcoFund, Nomad Capital, OKX Ventures and Robot Ventures — thus highlighting broad industry confidence in Lombard's vision. Strategic partnerships and contributions from exchanges like

 and Bitget are further bolstering its distribution and liquidity aggregation efforts.

LBTC is Lombard Finance's flagship product — a liquid staking token (LST) that represents Bitcoin staked through the Babylon protocol. Designed as a universal liquid BTC standard, LBTC is fully backed 1:1 by native Bitcoin, ensuring its value is directly tied to the underlying asset.

The token is yield-bearing, capturing rewards generated from securing PoS networks via Babylon staking. Crucially, LBTC remains liquid, meaning holders can freely use it across various DeFi applications — such as 

 and automated vaults — without sacrificing their underlying staked positions or associated yield.

LBTC is also designed for cross-chain compatibility, natively minted on supported blockchains like Ethereum, Base and Sui and using secure infrastructure [such as 

]. This avoids the risks associated with traditional bridging or wrapping methods, thus aiming to provide a more secure and seamless way to utilize Bitcoin across the multichain DeFi ecosystem.

Lombard Finance simplifies the process of putting Bitcoin to work within DeFi through its LBTC token. The mechanism is designed with security and user experience in mind, leveraging the Babylon protocol and a robust Security Consortium.

The core benefit of LBTC lies in its ability to unlock multiple layers of value simultaneously. Holders earn native yield from Babylon staking, potentially accrue additional rewards (such as Lombard Lux points) and gain access to diverse DeFi yield opportunities, all while maintaining the liquidity of their Bitcoin position. This transforms BTC from a static asset into a dynamic, yield-generating component of the DeFi ecosystem.

Lombard Finance is actively building a wide LBTC ecosystem that already boasts over 75 DeFi integrations. Security is foundational, anchored by the 14-member Security Consortium (including prominent names like Galaxy and OKX Ventures) and validating all critical operations alongside audits and bug bounties.

Core infrastructure relies both on Babylon for staking, and on the Chainlink CCIP for secure cross-chain movement, with EigenLayer integration 

. LBTC integrates with leading DeFi applications across lending platforms (e.g., 

) and automated vaults. The platform supports multiple blockchains (including Ethereum, Base, Sui, BNB Chain) and 

 (L2s), positioning LBTC as a versatile cross-chain asset.

Here's how you can stake BTC on Lombard and use LBTC in DeFi and automated vaults.

Lombard Finance (via its LBTC token) offers a compelling way for Bitcoin holders to put their assets into use, earn yield via Babylon staking and gain exposure to the expansive DeFi ecosystem — all while maintaining liquidity. Incubated by Polychain Capital and supported by a robust consortium and growing partner network, Lombard is positioning LBTC as a secure and versatile liquid Bitcoin standard.

It’s easy to participate in the Lombard ecosystem through 

, you can utilize your Bybit Web3 Seed Phrase Wallet to stake BTC and mint 

, Lombard's vault token that represents deposits in automated yield strategies. This provides you with a seamless gateway to access Bitcoin liquid staking and DeFi yields.

Ready to unlock your Bitcoin's potential? 

Intermediate

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Lombard Finance: Polychain-backed Bitcoin liquid staking protocol

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. 

Altcoin season might have come with reviveding speculation 

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. This resurgence has sparked renewed interest among retail traders, shifting focus from Bitcoin to smaller, more speculative altcoins. The overall market saw a 10% increase in value during the final eight days of April, contrasting with Bitcoin's 7% gain. This trend indicates a growing appetite for risk among investors, particularly in meme coins, which have seen a surge in social media discussions.

However, caution is warranted as elevated crowd enthusiasm often precedes market corrections. Historical patterns suggest that when buzzwords like "altseason" are dominating discussions, it may signal an impending price exhaustion. The current market dynamics reflect a shift toward speculative investments, raising concerns about the sustainability of this enthusiasm.

Bitcoin's bullish sentiment substantially improves

Bitcoin's position as the leading cryptocurrency has remained steady, with discussions around its price fluctuating significantly. Following a period of pessimism, when predictions dipped as low as $10K–$69K, sentiment shifted dramatically with the price recovery. Now, optimistic projections of $100K–$159K are dominating conversations, indicating a reversal in trader sentiment.

Despite Bitcoin's consistent presence in market discussions (approximately 25% of asset topics), the ratio of bullish-to-bearish commentary has grown increasingly favorable. This suggests a growing confidence among traders bolstered by Bitcoin's recent performance. However, it’s essential to monitor whether this bullish sentiment translates into sustained investment, or if it leads to overconfidence that may trigger a market pullback.

Ethere, once a robust contender in the altcoin arena, has struggled to regain retail investor confidence despite recent bullish commentary and promises of innovation from co-founder Vitalik Buterin. Its social media presence has dwindled to about 6–7% of discussions, a significant drop from previous years. This decline highlights the challenges Ethereum faces in re-establishing itself as a go-to investment in a market increasingly dominated by speculative assets.

Conversely, XRP has seen a notable increase in optimism surrounding ETF approvals, with expectations rising to 85%. This shift reflects a broader trend of institutional interest in cryptocurrencies, potentially paving the way for significant capital inflows. Meanwhile, Dogecoin's potential ETF listings have sparked renewed interest, transforming its image from that of a meme coin to a legitimate investment option. The growing dialogue surrounding institutional adoption of Dogecoin and XRP indicates a pivotal moment for these assets, suggesting they may play critical roles in the evolving cryptocurrency landscape.

Advanced

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Bybit x Santiment social sentiment report: Altcoin sentiment recovers despite Bitcoin’s resilience

Bybit Spread Trading allows traders to simultaneously buy and sell two related instruments in order to hedge risk or profit from price discrepancies. Read more.

Whether markets are flying high or wobbling unpredictably, one thing remains true: traders are always looking for smarter ways to 

 and find profit opportunities. That’s where Bybit Spread Trading comes in. This feature is tailor-made for those who want to go beyond basic buy/sell plays and start taking advantage of price discrepancies between related instruments. In this guide, we’ll walk through exactly how Bybit Spread Trading works, why it matters and how you can start using it today, whether you’re 

is a newly launched Bybit feature that allows users to simultaneously buy and sell two related instruments — such as Spot, Perpetual or Expiry contracts with different settlement dates — in order to hedge risk or profit from price discrepancies.

This type of trading strategy is popular among institutional and professional traders because it enables more precise, controlled market exposure. However, with Bybit’s interface, the barrier to entry is significantly lowered, opening the door for individual traders to tap with just a few clicks into a powerful set of tools.

At its core, Spread Trading on Bybit is about executing what’s called a combo trade. This means entering two positions at once: one long, one short. These positions are taken on related instruments, such as a BTC Spot trade and a BTC Perpetual contract, with the idea that their prices will either converge or diverge in a way that benefits your position.

When you place a buy combo, you’re buying the instrument with the longer expiration (the “far leg”) and selling the one that expires sooner (the “near leg”). 

A sell combo is the reverse: selling the far leg and buying the near leg. The profit (or loss) comes from how the spread between these two instruments shifts over time.

For example, if you believe the spread between a Perpetual and a Quarterly Futures contract will widen, you can buy the combo. If the spread increases after your entry, that movement becomes your profit. Bybit calculates your 

 prices automatically, based on the mark prices and your defined “order price,” so there’s no need to manually crunch the numbers.

Perhaps the most important feature here is atomic execution. This ensures both sides of your combo trade are filled together, in equal quantities, or the trade doesn’t go through at all. It removes “leg risk,” which is the danger of getting filled on one side of the trade, but not the other. In volatile markets, that alone can save you from an unwanted mess.

Spread Trading on Bybit currently supports combinations such as Spot and Perpetual, Spot and Expiry, Perpetual and Expiry, or even two Expiry contracts with different dates. This flexibility lets you build strategies that align with different market outlooks — bullish, bearish or neutral.

There’s a strong reason why Spread Trading is a go-to for many experienced traders: it allows for strategic plays that are more sophisticated than just guessing price direction. On Bybit, it’s not only powerful, but also convenient.

First, you get price certainty. Your spread is locked in at the price you specify. There’s no 

 between legs because the entry prices are automatically calculated and matched. You’re trading the spread, not the individual legs.

Secondly, the trading experience is smoother. Instead of placing two separate orders and manually trying to sync them, Bybit handles everything as a single transaction. You don’t have to worry about whether one leg gets filled and the other doesn’t — that risk is eliminated through atomic execution.

Third, this setup is a great hedge against volatility. By taking opposing positions on two related contracts, you reduce exposure to sharp price movements. Your P&L becomes more about the relative performance between contracts, rather than the market direction itself.

There’s also a strong cost advantage. Trading spreads on Bybit is significantly cheaper than doing it manually. You pay only half the trading fees you’d incur if you placed two individual trades on the order book. For high-volume or 

, that translates to meaningful savings over time.

Finally, it unlocks strategy flexibility. Whether you're 

 funding rates between Spot and Perpetual, doing 

 with different Futures contracts or taking advantage of price convergence before expiry, this platform gives you the tools to execute those ideas efficiently.

How to get started with Bybit Spread Trading 

Now that you have a better understanding of how Bybit Spread Trading works, let’s look into how to get started. Please note that you’ll need to have a Bybit account in order to proceed. If you don’t already have one, please check out our 

 for more information on how to create a Bybit account.

: Log in to your Bybit account and hover your cursor over the 

: The available spreads are organized in a grid, with each tile representing a unique combo. Choose your preferred combo to trade.

Tiles with a border around them signify that Spread Trading offers a better price. Hover over a tile for more details, or use the bar at the bottom of the grid to explore more options.

On the order placement page, set up your order with the following parameters:

to place your order. A pop-up window will appear for you to confirm your order details. Then, click on 

Congratulations — you’ve successfully placed an order!

You can view your Spread Trading orders from any trading page (Spread Trading, Spot and Futures), as they all share the same order data.

 to view your active orders. You’ll be able to view the combo, underlying asset, order price and more. 

If you would like to adjust your order parameters, you may click on the pencil icon under 

. To cancel your order, simply click on the order’s corresponding 

to view your completed orders. To view each order’s information on each leg, click on the order’s corresponding 

button. For additional insights, click on 

Spread trading isn’t for everyone — but if you’re someone who enjoys strategic trading, hedging or arbitrage, it’s a tool worth adding to your arsenal. It appeals to traders who are less interested in taking a directional bet, and more focused on capitalizing on inefficiencies in the market.

You don’t have to be a pro trader to benefit, either. The simplified execution and intuitive UI mean even intermediate users can explore advanced strategies without being overwhelmed. As long as you understand how spreads work, and how your P&L is affected by their movement, you’re already halfway there.

More importantly, in times of market uncertainty or low volatility — when price action feels sluggish — spread trading gives you an alternative way to profit. It keeps you in the game — even when momentum plays aren’t cutting it.

Bybit Spread Trading is a powerful tool that combines simplicity with sophistication. Whether you're looking to hedge, save on fees or experiment with 

 strategies, it offers a clean and user-friendly way to do so. With lower risk, lower costs and plenty of flexibility, Bybit Spread Trading is a smart move for any trader looking to level up their game — especially when markets get messy.

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Bybit Spread Trading: Smart strategies for market swings

Bybit Learn

Stablecoin

Keen on learning about the differences between USDT and FRAX? These are the best stablecoins that you can buy to avoid volatility or try your hand at staking.

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Looking for a list of top stablecoins? You're in the right place. From being backed by actual dollars in a bank account to relying on a decentralized protocol, stablecoins exist in various forms. This comprehensive guide to the best stablecoins will explain what stablecoins are, the different types to watch for, and some examples of the top stablecoins in the crypto market. 

Stablecoins are cryptocurrencies that have their price pegged to, and are backed by, a singular reserve or group of assets. These price stabilization reserves can range from fiat currencies and national currencies to algorithms or commodities. 

If you're new to crypto, you might be wondering about the use cases of stablecoins. Their most common form of utility is as a medium of exchange. 

Altcoins or even Bitcoin can appear extremely volatile. Their values can wildly fluctuate because of huge inflows and outflows of funds. This can be cumbersome if you're looking to use your crypto as a medium of exchange. Thankfully, with stablecoins, the value of your assets can be preserved as they're meant to maintain their dollar-pegged value. This makes it easy for investors and traders to on-ramp their fiat and convert it into crypto, as the exchange can be made with minimal price volatility.

On top of being a solid medium of exchange, crypto enthusiasts also use stablecoins to participate in 

 (DeFi) projects that involve the lending or staking of stablecoins. Doing this provides investors with passive, low-risk yield as they provide extra liquidity on the platform. This ultimately makes staking or lending stablecoins a viable option for investors during periods of high volatility and/or bearish sentiments.

Now that we've covered the basics of what stablecoins are and their various use cases, let's move on to the different types of stablecoins in the crypto space.

What Are the Different Types of Stablecoins?

Fiat-backed stablecoins are, as the name suggests, pegged to a 

. Fiat currency is essentially not backed by a commodity and is issued by a government. These types of stablecoins typically have a reserve of an equal amount of fiat currency to which they’re pegged. For instance, USD Coin is a top stablecoin that’s largely backed by the U.S. dollar. Fiat-backed stablecoins can be used for transactions, just like other cryptocurrencies, and are considered more reliable.

In essence, these stablecoins are backed by a group of cryptocurrencies. By relying on another cryptocurrency as collateral, the average investor may understandably fear that the crypto-backed stablecoin will be highly volatile. To relieve these worries, such crypto-backed stablecoins are generally overcollateralized to make sure they maintain their value throughout periods of massive price fluctuations.

Unfortunately, UST's implosion has smeared the reputation of the best algorithmic stablecoins, despite solid examples like FRAX and DAI maintaining solid track records. Also called non-collateralized stablecoins, 

 do not have standard fiat or commodity collateral. These decentralized coins are made to help boost stability in market prices without connecting a central authority. Algorithms include special stabilization measures, which are hardcoded on Ethereum smart contracts for the stablecoins. To combat periods of volatility, the supply of algorithmic stablecoins is highly responsive to market forces.

On a more technical level, an oracle contract is used to assist these algorithmic smart contracts in execution. These contracts help by retrieving pricing information for algorithmic stablecoins on other exchanges. Following this, the price periodically enters a rebasing contract to determine if supply should increase or decrease. The contract then analyzes the number of tokens to mint or burn from user wallets based on the information gathered. 

Some stablecoin teams have gone one step further to make their algorithmic stablecoins partially collateralized. For example, FRAX is partially collateralized by fiat-backed stablecoin USDC and FXS, the Frax protocol's governance token.

Like fiat-backed stablecoins, these stablecoins are backed by external assets that aren’t cryptocurrencies. In this case, commodity-backed stablecoins are pegged to precious metals like gold. While commodities also fluctuate in price, they tend to hold value better in times of economic inflation than other forms of assets.

Commodity-backed stablecoins are useful for investing in assets that aren’t always easy to source in a nearby geographical location. For example, physically buying and storing gold can be expensive and inaccessible in many places. However, by purchasing commodity-backed stablecoins, investors can gain access to a tokenized form of rare metals.

In order to determine the best stablecoins, we must first understand what makes a good one. On a fundamental level, the best stablecoins must provide transparency in their holdings. Also, top stablecoins need to have a high trading volume so they can act as a liquid medium of exchange. These two factors combined provide a base on which to build confidence with investors, who can trust the stability of the stablecoin, knowing that it’s backed by a credible reserve of assets and that it can be easily exchanged with other stablecoins.

From USDC to DAI, here are some of the best stablecoins you can consider including as part of your portfolio. 

If you're a crypto veteran, it's no surprise that 

 (USDT) tops our list of stablecoins. Originally known as Realcoin, the Tether stablecoin was officially released in 2014 and was one of the earliest stablecoins. It’s backed by multiple assets that include traditional currency and cash equivalents, ranging from bonds to commercial paper. 

Tether has faced scrutiny over its reserve transparency, but has since clarified that its reserves are backed 100% by the U.S. dollar, which can be verified via its 

In July 2024, USDT continued its steady growth, marking an 11th consecutive month of market capitalization increases to reach $114 billion, a 1.6% rise from the previous month. Despite a slower growth rate compared to some competitors, USDT maintains its stronghold in the stablecoin market with nearly 70% of market share, reflecting its pervasive use and trust within the crypto trading community. 

Additionally, Tether reported a record $5.2 billion in profits for the first half of 2024, demonstrating its profitability and significant impact on the stablecoin sector amid a challenging regulatory environment in Europe and a broader decline in trading volumes across the market.

USDT remains one of the top stablecoins, with a 24-hour trading volume of $36.5 billion and a market cap of $114.4 billion (as of Aug 2, 2024). If you’re looking to earn a passive income with USDT, you can consider staking USDT with Bybit Savings. Bybit is currently holding an 

 in which you can earn up to 300% interest for both fixed and flexible terms.

, composed of multiple well-known figures in the crypto world. The coin launched in 2018 and became one of the top stablecoins because it offered an alternative to USDT. While Tether's holdings remained a mystery at the time, USDC provided proof of its backing by assets derived from the U.S. dollar. This transparency and stability gained from its fiat backing led to USDC taking the number two spot in terms of the amount of USDC being traded every day.

In July 2024, USDC pairs experienced a significant boost in trading volume, reaching $135 billion on centralized exchanges and fueled by market inflows and the new EU Markets in Crypto-Assets (MiCA) regulatory framework. This surge coincided with a 5.4% increase in USDC's market capitalization, pushing it to $33.6 billion. Circle's early compliance with MiCA (becoming the first stablecoin issuer approved under these regulations) played a crucial role in this growth, highlighting the importance of regulatory readiness in the expanding crypto landscape.

USDC’s 24-hour trading volume is currently $8.8 billion, and its market cap is $33 billion (as of Aug 2, 2024). 

Stablecoin investors looking to earn a safe return can visit 

 to earn up to 500% APR on their staked USDC.

First Digital USD (FDUSD), launched by First Digital Labs in June 2023, is rapidly establishing itself as a top contender among stablecoins. Engineered to offer a seamless blend of stability and innovation, FDUSD is fully backed by the U.S. dollar, ensuring a 1:1 peg with the fiat currency. This financial structure is fortified by assets held in fully segregated, bankruptcy-remote accounts, providing robust security and trust to its users.

FDUSD's journey began under the auspices of First Digital Labs, a Hong Kong–based financial firm recognized for its pioneering efforts in digital asset custody and trust services. The introduction of FDUSD coincided with new crypto regulations in Hong Kong, positioning it as a stablecoin designed to cater to both regulatory compliance and user security. The stablecoin's launch was met with enthusiasm, quickly achieving a market capitalization of $1 billion, a testament to its acceptance and potential within the crypto market.

What sets FDUSD apart is its commitment to maintaining rigorous custodial arrangements and providing transparency through regular independent attestations of its reserves. These measures ensure that each token is indeed backed by a corresponding U.S. dollar, promoting reliability and stability. Moreover, FDUSD's programmable features allow it to support a range of financial applications, from escrow services to complex financial contracts, all without intermediaries.

For all of these reasons, FDUSD stands out as one of the best stablecoins because of its robust regulatory framework, high degree of asset protection and innovative approach to digital finance, making it a prime choice for users seeking stability in the volatile cryptocurrency market​. 

FDUSD’s current 24-hour trading volume stands at $7.3 billion, and its market cap is $2 billion (as of Aug 2, 2024).

) is emerging as one of the leading stablecoins in the cryptocurrency landscape, distinguished by its robust backing and seamless integration into the digital payments ecosystem. Launched by PayPal in collaboration with Paxos Trust Company, PYUSD is fully backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents, ensuring a stable 1:1 peg with the U.S. dollar. This backing is regularly verified through monthly attestations by an independent third-party accounting firm, thus adding an extra layer of transparency and reliability.

One of the key advantages of PayPal USD is its deep integration within PayPal's vast payment network, making it a practical choice for a wide range of transactions that include person-to-person transfers and commercial payments. PYUSD is designed to reduce friction in digital transactions, supporting seamless transfers on platforms like Ethereum and Solana, which enhances its utility in faster and cost-effective global payments. The PYUSD stablecoin is also engineered to support next-generation payment systems, allowing businesses and developers to leverage its stable value in innovative financial applications.

Moreover, PayPal USD’s rollout includes features that cater to both individual users and enterprises, offering functionalities such as easy conversion between PYUSD and other supported cryptocurrencies within the PayPal ecosystem. This broad accessibility — coupled with PayPal’s reputation and operational expertise in digital finance — positions PYUSD as a potent tool in the evolving digital currency space, promising stability, extensive usability and regulatory compliance.​ 

Its current 24-hour trading volume stands at $9.3 million and its market cap is $622.5 million (as of Aug 2, 2024).

 stablecoin in 2017 when the mere idea of a crypto-backed stablecoin seemed risky and unrealistic. While DAI was originally created to provide a non-volatile lending asset for businesses and individuals, Maker eventually gave governance of DAI to MakerDAO. 

One of the critical mechanisms that have ensured DAI’s stability is its overcollateralization strategy, primarily using Ethereum. This method has proven effective, especially during volatile market conditions, in helping DAI maintain its peg to the U.S. dollar. In recent updates, the MakerDAO community has been active, proposing strategic allocations of DAI into other stablecoin projects like USDe and sUSDe, indicating a proactive approach to diversification and yield optimization within the DeFi ecosystem.

DAI's supply has notably increased by 20% over the past three months, reaching a market cap of $5.3 billion (as of Aug 2, 2024). Its 24-hour trading volume stands at $205.3 million. This growth reflects its increasing adoption and the trust users place in its stability mechanisms. Additionally, DAI has been integrated into new blockchain initiatives, suggesting an expanding role beyond traditional DeFi applications. These developments underline DAI's adaptability, as well as the MakerDAO community's commitment to maintaining DAI as a fundamental component of the DeFi landscape.

 is emerging as a standout among stablecoins, leveraging innovative financial strategies to maintain stability and generate yield and positioning it as a leading choice for savvy crypto users. As a synthetic dollar, USDe distinguishes itself by operating entirely within the crypto ecosystem backed not by traditional fiat or commodities, but by a sophisticated arrangement of Ethereum and its derivatives. This structure allows USDe to offer a censorship-resistant, scalable and stable currency option, addressing the common stablecoin 

 — balancing decentralization, scalability and stability without sacrificing one for the others.

The core of USDe's stability mechanism is a 

 strategy that mitigates the volatility typically associated with crypto-backed assets. By creating short positions in derivatives alongside crypto collateral, USDe ensures that any drop in collateral value is counterbalanced, thus maintaining its peg to the dollar. This not only enhances its stability, but also provides a lucrative yield-generating opportunity through the derivatives market. These features make USDe an attractive option for users looking for a stablecoin that combines the benefits of traditional stablecoins with the potential for high returns, making it a compelling addition to the digital finance landscape.

Its current 24-hour trading volume is $98 million, while its market cap is $3 billion (as of Aug 2, 2024).

 network, aims to position itself prominently in the DeFi sector. Despite experiencing some volatility in April 2024, when it briefly 

 from its $1.00 target down to $0.97 amid broader issues in the crypto markets, USDD has demonstrated resilience through strategic enhancements to its stabilization mechanisms.

A significant upgrade to USDD has seen it transform into the first overcollateralized decentralized stablecoin. By securing its value with a robust collateral pool that includes highly liquid assets like BTC, TRX and USDT, USDD has bolstered its market position. The real-time collateral ratio maintained by the Tron DAO Reserve significantly exceeds the 100% mark, aiming to provide a stable and secure backing for the coin. This upgrade has not only enhanced trust in USDD's stability, but also its appeal as a secure digital asset within the volatile cryptocurrency market.

Furthermore, USDD is supported by a comprehensive ecosystem on TRON, one of the largest stablecoin networks. This support includes widespread adoption across multiple major blockchain platforms, as well as integration into numerous popular crypto exchanges and DeFi platforms. Backing by industry leaders and a high level of transparency in its operations contribute to USDD’s growing reputation as a reliable stablecoin, even as it navigates challenges common in the DeFi space​.

USDD’s 24-hour trading volume stands at $1.04 million, and its market cap is at $740.6 million (as of Aug 2, 2024).

FRAX initially made headlines in 2019 as the world’s first fractional algorithmic stablecoin. The coin maintains its peg by making use of two reserves: Fiat-backed USDC, and FXS, the Frax ecosystem's native token. The ratio of USDC to FXS depends on the collateral ratio, which varies the amount of USDC and FXS needed to mint $1 worth of FRAX. This makes FRAX a partial algorithmic stablecoin, since it has fiat backing on top of its algorithmic backing.

Over time, Frax has evolved to emphasize security and stability, shifting toward a fully collateralized model. This change was driven by community governance, reflecting a proactive approach to adapting to market needs and regulatory environments. The decision to fully collateralize FRAX underscores its commitment to reliability and trust, especially important in a landscape often shaken by volatility and uncertainty​​.

Recently, Frax Finance has announced ambitious plans to expand its reach and utility. It aims to achieve a total value locked (

 through its road map, signaling aggressive growth and expansion strategies. Additionally, Frax has integrated into new ecosystems, such as the Cosmos network, thereby broadening its interoperability and potential use cases across different blockchain environments​​.

The ongoing developments in Frax, including its full transition to overcollateralization and expansion into new blockchain territories, highlight its position as one of the top stablecoins by fostering a stable and secure option for digital asset transactions. These steps not only enhance the intrinsic value of Frax, but also contribute to its reputation as a robust and adaptable stablecoin in the competitive DeFi landscape.

FRAX’s current 24-hour trading volume stands at $27.5 million, and its market cap is $646.3 million (as of Aug 2, 2024). 

Tether Gold (XAUt), launched in January 2020, stands out as one of the premier gold-backed stablecoins. Each XAUt token is backed 1:1 by a fine troy ounce of physical gold held in secure vaults in Switzerland, providing token holders with the tangible security of gold combined with the liquidity and ease of a cryptocurrency. This gold backing is verified through regular audits, ensuring transparency and trust in the token's value.

What sets Tether Gold apart is its accessibility and ease of use. The token can be divided into increments as small as 0.000001 fine troy ounce, allowing for flexibility in investment sizes. Moreover, XAUTx tokens can be traded 24/7 on various exchanges, making them highly liquid compared to physical gold. For those looking to redeem their tokens, the process is straightforward, though it requires a minimum amount to redeem a full gold bar.

Recent developments have reinforced Tether Gold's position in the market. Tether Gold has expanded its accessibility by being listed on additional crypto exchanges such as BTSE, increasing its availability to a broader audience. This expansion is indicative of its growing popularity and trust as a digital alternative to traditional gold investments​​.

Overall, Tether Gold's blend of physical asset backing, digital flexibility and rigorous compliance measures make it a compelling option for investors seeking stability and security, akin to gold with the benefits of digital assets.

XAUt’s current 24-hour trading volume stands at $14.8 million, and its market cap is $604.6 million (as of Aug 2, 2024).

) was launched in September 2019 by Paxos, a regulated blockchain infrastructure platform. PAXG distinguishes itself by allowing users to own physical gold in a digital form, each token 

 with a troy ounce of a London Good Delivery gold bar stored in secure vaults. This unique approach to combining the stability of gold with the efficiency of blockchain technology makes Pax Gold one of the best stablecoins for investors seeking a safe haven asset in the digital space.

PAXG's adoption has grown significantly, reflecting in its integration into various platforms and the broadening of its usability. Recently, PAXG was integrated on the XPOS system by Pundi X and Scoin, facilitating the purchasing and transition between physical and digital gold in the South African market. This move not only enhances the liquidity and accessibility of PAXG, but also bridges the gap between traditional gold investments and modern digital finance solutions​. Such integration is a testament to PAXG's growing importance, as well as its potential to reshape how gold is traded and owned globally.

PAXG’s current 24-hour trading volume stands at $16.7 million, and its market cap is $456.4 million (as of Aug 2, 2024). 

To earn interest on any of the top stablecoins or cryptocurrencies, investors can use platforms like 

 for staking. On top of offering a competitive yield, Bybit offers the advantage of staking under both flexible and fixed terms. This gives investors the freedom and flexibility to pick a staking period that suits their risk appetite. 

 and get started on your passive income journey today.

 offers upgraded features and flexibility for participants to maximize their yields despite market volatility. Simply indicate your desired price to buy or sell your crypto assets based on the predicted market trend. You'll earn interest yields, regardless of your choice of market predictions, upon a predetermined settlement date. 

Decide on a base currency to start trading on the Bybit Spot or Derivatives market across thousands of asset pairs. Bybit offers a wide range of USDT, USDC and DAI-based crypto pairs as a base cryptocurrency that’s pegged with USD. Some of the popular crypto pairs include BTC/USDT, BTC/USDC, ETH/USDT, ETHUSDC, BITUSDT and more. 

 where you can participate in a total of four events through Aug 22, 2024, 10AM UTC. 

We hope our guide has helped you decide what the best stablecoins are and educated you as to their differences. The most popular stablecoins are likely to continue seeing favorable trading volume trends as more investors shift their interest to coins backed by some form of assets, which offer transparency when it comes to what they're backed by. 

Whether during periods of high volatility or steady market growth, stablecoins represent a crucial aspect of digital finance, offering a dependable store of value and a medium of exchange. Looking ahead, as the digital economy continues to expand, stablecoins are poised to play an increasingly significant role, bridging traditional finance and the burgeoning world of DeFi. 

Embrace the stability and potential of stablecoins as part of your investment strategy, and stay tuned for future developments in this exciting sector.

10 Best Stablecoins to Look Into During Volatile Times (Updated)

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