Which stablecoins actually stay up
Best measured: Tether — 8.97/10 on the 78% we could measure.
Runner-up: USD Coin — 8.97/10.
Last collection 2026-08-25: probed 252 services, measured 233, over a 90-day window. Collected by our own script, not by hand — the numbers are reproducible, and reproducibly boring.
The ranking
| # | Service | Score | Market cap | Peg dev | Age | Chains | Status feed |
|---|---|---|---|---|---|---|---|
| 1 | Tether | 8.9778% | $183.08B | 0.02% | — | 130 | none |
| 2 | USD Coin | 8.9778% | $73.71B | 0.01% | — | 154 | none |
| 3 | PayPal USD | 8.5478% | $2.76B | 0.02% | — | 19 | none |
| 4 | Sky Dollar | 8.3878% | $6.62B | 0.00% | — | 7 | none |
| 5 | World Liberty Financial USD | 8.3878% | $4.06B | 0.04% | — | 8 | none |
| 6 | Global Dollar | 8.3878% | $3.34B | 0.01% | — | 6 | none |
| 7 | BlackRock USD | 8.3878% | $2.64B | 0.00% | — | 8 | none |
| 8 | Ripple USD | 8.2378% | $2.07B | 0.01% | — | 2 | none |
| 9 | United Stables | 8.2378% | $1.29B | 0.06% | — | 3 | none |
| 10 | Ondo US Dollar Yield | 7.9656% | $2.16B | 14.38% | — | 15 | none |
| 11 | USDGO | 7.9278% | $1.21B | 0.01% | — | 1 | none |
| 12 | Circle USYC | 7.5456% | $2.92B | 13.50% | — | 2 | none |
| 13 | Ethena USDe | 7.3678% | $4.07B | — | 2.5y | 1 | none |
| 14 | USDD | 7.178% | $1.27B | — | 1.5y | 3 | none |
| 15 | Dai | 4.3256% | $17,944 | — | — | 49 | none |
Every figure carries the date it was taken, on the service’s card below, linked to its open source. Score is out of what we could measure — the % next to it is coverage.
How we scored this
These weights belong to this category alone. Signature measurement here: Market cap and peg mechanism (DefiLlama stablecoins) — Market cap is the trust vote; live peg deviation is the one job; backing longevity and reach follow.
Total value locked (DeFi), on-chain reserves (exchanges) or circulating market cap (stablecoins), from DefiLlama. Capita…
Time the service has been live and continuously operating, from DefiLlama's listing date or the documented launch. Survi…
Number of chains the service is deployed on, from DefiLlama. Breadth is resilience and adoption — but only a minor facto…
Whether a public, machine-readable status page exists (statuspage / incident.io / instatus). A service you can audit fro…
Absolute deviation of the live price from the intended peg, from DefiLlama's stablecoins feed. Stablecoins only: a coin …
Latency in this category is timed at a public API endpoint for every service, so the comparison is like-for-like. We never compare latency across categories — a DEX interface and an exchange API are not the same thing, and pretending otherwise would just reward whoever we happened to probe more cheaply.
The brief also defines FEES and UX (0%, 0%). We don’t publish them: we can’t measure them ourselves, and an estimate dressed as a measurement is worse than a gap. Full methodology
The services
Tether
$183.08B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.02% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 130 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
USD Coin
$73.71B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.01% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 154 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$2.76B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.02% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 19 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$6.62B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.00% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 7 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$4.06B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.04% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 8 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$3.34B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.01% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 6 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$2.64B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.00% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 8 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$2.07B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.01% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 2 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$1.29B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.06% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 3 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
$2.16B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Yield-bearing by design: its price rises above $1 as yield accrues, so peg-deviation is not a failure and is not scored here.
No documented launch or listing date to measure age from.
Deployed on 15 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
USDGO
$1.21B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Live price deviates 0.01% from the $1.00 peg (DefiLlama). A stablecoin's one job.
No documented launch or listing date to measure age from.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
Circle USYC
$2.92B in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Yield-bearing by design: its price rises above $1 as yield accrues, so peg-deviation is not a failure and is not scored here.
No documented launch or listing date to measure age from.
Deployed on 2 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
Ethena USDe
$4.07B in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Not a pegged asset, or no live price available.
Live 2.5 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 1 chain (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
USDD
$1.27B in value locked (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Not a pegged asset, or no live price available.
Live 1.5 yr (time since DefiLlama listing (a floor on true age)). Most failures happen young, so time survived is real signal.
Deployed on 3 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Timed at a different surface from the rest of this category, so not a fair comparison — not scored.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who needs to know when it breaks: no status feed, so you find out it is down by discovering it yourself.
Dai
$17,944 in market cap (DefiLlama). Capital is the market voting with its money — scored on a log scale, so the jump from $10M to $100M counts for more than $10B to $20B.
Not a pegged asset, or no live price available.
No documented launch or listing date to measure age from.
Deployed on 49 chains (DefiLlama). Breadth is a minor tie-breaker — a focused single-chain protocol can still be excellent.
No public status page found. Nothing about its reliability can be verified from outside — including by us.
Status transparency: No public status page found. Nothing about its reliability can be verified from outside — including by us.
Anyone who wants a battle-tested venue. Little value sits here yet, so it has not been stress-tested at scale — early-adopter territory.
Who we left out, and why
We looked at 15, ranked 15.
Head to head
Questions
Why isn’t the biggest name at the top?+
Because we rank on whether a service works and can be checked, not on how big it is. Size is not a criterion here — a large service that publishes no status feed cannot demonstrate its reliability to anyone, and it scores accordingly.
What does "62% measured" mean under a score?+
It is the share of our criteria weight we actually measured for that service. The rest is n/a — we did not measure it, so its weight was redistributed across what we did measure rather than counted as zero. A high score at low coverage is a narrower claim than the same score at high coverage, and we would rather show you that than hide it.
Where do the incident numbers come from?+
From each provider's own status page, which several publish as a machine-readable feed. We compute repair time from their published report and resolution timestamps, and link the source on every figure so you can check it. It is their record — we just do the arithmetic and refuse to round it in their favour.
No affiliate links or paid placements in this section. How this is funded · Methodology