<ul data-eligibleForWebStory="true"><li>Circle's stock price has surged 434% from its IPO price of $31, reflecting strong investor interest in the stablecoin issuer of USDC.</li><li>USDC ranks as the second-largest stablecoin with a market cap of $61.58 billion, behind Tether's USDT which leads with $155.51 billion.</li><li>Wu Blockchain's report highlights the top 10 stablecoins by market cap, issuer, and collateral structure.</li><li>USDT is backed by USD cash and U.S. Treasuries while USDC is collateralized by cash and short-term Treasuries.</li><li>Other stablecoins in the top 10 include USDS, USDE, USD1, FDUSD, PYUSD, XAUT, PAXG, and TUSD with varying collateral mechanisms.</li><li>Circle's soaring valuation reflects the growing institutional demand and regulatory clarity in the stablecoin market.</li><li>Regulatory frameworks are influencing the stablecoin sector towards transparency and collateral quality.</li><li>The combined market cap of the top 10 stablecoins indicates a maturing industry with Circle and Tether leading the market.</li><li>The article originally appeared on Coindoo.</li></ul>

Top Stablecoin Projects Ranked by Market Size and Collateral

Discover more