Is tether the world's largest stablecoin?

(CNBC) Tether, the world’s largest stablecoin, has slashed back its commercial paper holdings to zero, replacing them with U.S. Treasury bills instead, according to a blog post.

What are the best stablecoins right now?

Here are the best stablecoins right now: 1. Tether (USDT) So named because it “tethers” itself to the value of the USD, Tether is the most well-known stablecoin in the crypto world. It’s backed by gold, traditional currency and cash equivalents. Tether is also known for its security and smooth integration with crypto to fiat platforms.

What is the largest stablecoin by market cap?

The largest stablecoin by market cap is Tether. Tether has a market cap of $83.78 B and accounted for $50.53 B worth of trading volume in the last 24 hours. What is the current crypto market cap?

Are Stablecoins backed by Fiat?

Most stablecoins are backed by fiat reserves, the idea being that they have enough collateral in case users decide to withdraw their funds. (UST was among a new breed of “algorithmic” stablecoins that attempt to base their dollar peg on code.)