In our latest Learn 101 livestream session, we gathered an esteemed panel of crypto experts to share insights on whether BTC will soar to $100K by 2024.

The extreme volatility of Bitcoin and periods of strong growth throughout its history have created substantial wealth for many investors. Bitcoin breached $70,000 earlier in 2024, and many investors are eagerly awaiting price movement to $100,000.

, we ask, “Will Bitcoin Soar to $100K by 2024?”

, provides a recap of our Learn 101 livestreams, offering you comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.

Joining the livestream on Sep 11, 2024 were four distinguished guests:

Under the moderation of Sabrina Chua, Crypto Evangelist and SEO Editor at Bybit, this episode explores if Bitcoin’s price will reach $100K by 2024.

Bitcoin's Journey — Looking Back to Look Forward

At the start of the livestream, Michael Ionita created an automated trading order to demonstrate how easy it is. It remained running in the background until the end of the stream, when our guests reviewed the order.

Throughout the years, Bitcoin’s price has been influenced by the Jackson Hole Economic Symposium, government policy, ETF applications and other factors. Henrique Centieiro stated that short-term macroeconomics are impacted by the Federal Reserve. The economy is currently relatively shaky, and he anticipates more money will be printed. When this last took place, the stock market shot up, and Bitcoin’s price increased substantially. Centieiro attributes this to the level of increased money in circulation.

Referring to a chart that shows a correlation between lowered U.S. interest rates and Bitcoin’s price, Ionita demonstrated that increased money supply has boosted Bitcoin’s prices.

Jerry Li is bullish over the next six months. He reminded us that inflation weakens both the U.S. dollar and purchasing power, and as interest rates drop, he sees a correction in the crypto market that will positively affect Bitcoin’s price.

Centieiro stated that some people will take profits during the rate adjustment. He believes that the next month may be bearish, but there will then be a bull rush.

Ionita said that the market has been impacted by Russia’s new Bitcoin policy, asserting that this is bringing more funds into Bitcoin. However, many people in Russia are holding Bitcoin on a short-term basis because they’re making purchases with it. This makes Russia’s policy impact both bullish and bearish: Ionita maintains that other countries may act on this by prohibiting or limiting Bitcoin because of world events.

Meanwhile, Centieiro stated that the amount of money being kept on exchanges is at an all-time low, which means people are holding for a longer period of time. Bitcoin miners continue to invest in mining equipment. In addition, Michael Saylor has stated that Bitcoin’s price will reach 

Li drew attention to the fact that recently, hash power has increased dramatically, which is attributable to the entrance of more people and countries into the crypto market.

Ionita described the Bitcoin Spot ETF rally of 100%, attributing it to massive public interest. He believes BTC’s price is being heavily restricted because of this huge interest, and expects its price to rise by the end of October, based on the interest in Bitcoin Spot ETFs.

Centieiro said that there’s a lag as money managers decide whether to invest or not. Adding Bitcoin to a fund, even in small amounts, increases diversity and lower risks. He believes this is a win-win situation for money managers.

Li reminded us that Bitcoin will definitely reach $100,000 at some point, but nobody knows when. The upcoming U.S. election may drive its price up, but it could also bring greater volatility. Other catalysts may drive the price up as well.

Ionita referred to his screen again, saying that it’s hard to predict a price for something with multiple variables. However, he referred to the Fibonacci cycle for the current market, which reveals a Bitcoin price prediction between $200,000 to $300,000, adding that it’s impossible to predict the time frame. The average cycle time, however, is 1,069 days, which would extrapolate to the end of October 2025, but this time frame is fuzzy. He believes $200,000 is realistic for the cycle.

Centieiro described some price movement obstacles that have prevented Bitcoin’s price increase or slowed the time frame for BTC hitting $100,000 — the uncertainty of the U.S. election, for one. He also referred to a chart showing a lower flow in market-based mining activity. This indicates a type of magnet for the price. Centieiro also introduced a power log that shows BItcoin’s price should currently be around $90,000. He believes the current price is a pressure cooker, and the price will therefore greatly increase.

Zitane said the main risks that could stymie BTC price growth are regulatory uncertainty, economic instability and military conflicts, among others, directly affecting BTC’s price.

Ionita added that investors should get out of any risky asset in a downturn in order to prevent loss. He stressed the importance of understanding that both BTC and the U.S. dollar are preferred as investments in different situations, and showed a graph indicating that dollar-cost averaging (DCA) isn’t a wise approach for risky assets.

Li, however, stated that he uses DCA. He believes it’s a healthy strategy over a long period of time, due to his confidence that Bitcoin’s price will eventually go back up after a dip.

Centieiro agreed with Ionita that it’s not advisable to use DCA for an asset that’s going to zero. However, he doesn’t believe that Bitcoin will ever go to zero. Centieiro believes in DCA as a solid, long-term strategy to smooth out BTC market volatility.

Zitane has a simple strategy: he only uses DCA. He makes a purchase, and then buys again if the price goes down. He pays attention to the news, keeps buying when the price goes down and continues to reduce his average price.

Ionita reminded us that you can make more money with manual trading if you know what you’re doing. Most people aren’t professional traders, though, and can get wrecked in a bear market if they don’t stay on top of things. He recommends that these traders use an automated algorithm.

Smart Trading — Entering and Exiting with Confidence

Centieiro explained how he enters a trade: he buys BTC and holds it for at least a few years, looking for a relatively cheaper price as compared to previous prices. This is determined by a look at the 200-day moving average. He also looks at the Crypto Fear & Greed Index. Centieiro explained that investors must decide how long they plan to hold BTC 

 buying it. He invests a portion of his investment amount at one time, and spreads the rest of his investment out over several weeks.

Ionita, however, holds his BTC over several months. He looks at Fibonacci and other charts to invest funds in BTC and several other assets, based on risk. He maintains a specific allocation, with more allocation to the least risky assets.

This session of the Learn 101 livestream highlighted “Will Bitcoin Soar to $100K by 2024?”

As part of the livestream, Bybit is holding an 

 that offers you a chance to participate in our pop quiz and win a share of 300 USDT in airdrops. The event period is through September 18, 2024, 11:59PM UTC.

Stay tuned for more discussions on the dynamic world of cryptocurrencies!

Intermediate

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Learn Live ICYMI: Will Bitcoin Soar to $100K by 2024?

Self Chain (SLF) is a Layer 1 network that provides a cross-chain keyless wallet solution, along with modular intent-based transaction execution capabilities.

 can be tedious and frustrating, especially for beginners. At the same time, careful private key management is crucial if the user wants to avoid security breaches or the loss of access to their wallet. 

Wouldn't it be great if you could transact securely on blockchains using your social media logins while also enjoying the cryptographic protection features provided by crypto wallets? And without the need for private key or 

This is exactly what Self Chain (SLF), an innovative 

 blockchain project, offers to the crypto user community.

multi-party computation — threshold signature scheme

 (MPC-TSS), Self Chain offers keyless wallet services that let you transact across multiple chains and applications. Additionally, its solution comes with a large language model (LLM) intent-based chat assistant to find you the best deals and transaction options in the cryptocurrency world.

 (SLF) is a decentralized platform that describes itself as the first modular intent-centric access Layer 1 blockchain. 

It provides two key services: an AI-driven chat assistant that helps users carry out intent-based transactions, and a keyless wallet solution that facilitates multichain logins and transactions without the need for private key or seed phrase management. Self Chain’s Layer 1 network is based on the popular Cosmos SDK blockchain development framework. 

 (ATOM) ecosystem, Self Chain uses the delegated proof of stake (DPoS) block processing method, with validator nodes securing the network.

The project was initially called Frontier (FRONT). It began its network operations with the launch of an incentivized testnet in April 2021. In mid-2024, Frontier was rebranded to Self Chain and launched its mainnet.

Self Chain's AI chat assistant accepts voice and textual inputs from the user, and searches multiple blockchain platforms and 

 (DApps) to find the best possible deals. This service can be used in various areas, including 

 (DeFi). For instance, crypto gamers can use Self Chain’s intent-based search for the best deals on gaming 

 assets, while DeFi traders can instruct the assistant to find the best rates for specific coin swaps.

The platform's keyless wallet infrastructure service allows users to securely use email- and social media–based 

 logins to blockchain apps and platforms. This is enabled by splitting the wallet's seed phase into three parts, each stored separately — one encrypted on the user's device, the second encrypted and stored on the Self Chain network in a decentralized manner and the third reserved for wallet recovery purposes..

The platform's chat assistant is based on an LLM model that transforms user inputs into signed automated intent instructions. These instructions are passed to Intent Searchers, entities that scout the blockchain ecosystem for the best deals and most efficient paths for the intended transaction. Once the optimal source is found, Intent Searchers pass the request to intent solvers, whose job is to execute the transaction.

Blockchain DApps that aspire to become Searchers and solvers within the Self Chain ecosystem can use the Intent DSL SDK, a development framework offered by the platform. Using the SDK, DApps can integrate into the platform's architecture and translate user intent commands into executable searches and transactions.

The Self Chain keyless wallet service is powered by MPC-TSS technology, which permits splitting the user's private key, seed phrase or other secret identifier into multiple fractions, each stored independently to avoid a single point of failure. As a security technology, MPC-TSS predates blockchain, and can be applied in a chain-agnostic manner.

In Self Chain's implementation of MPC-TSS, there are three seed phrase fractions, with the two main ones — the Personal Share and the Remote Share — held on the user's device and the blockchain, respectively. When an operation is carried out, the Personal Share is matched against the Remote Share to facilitate the transaction. A network of MPC nodes encrypts the Remote Share in a distributed fashion to further enhance the security of operations.

The third fraction — the Recovery Share — is used solely to restore access to the user's device or add a new device.

Thanks to this chain-agnostic keyless system, users can retain the self-custody of their wallets, enjoy the security of the blockchain's cryptographic protection and use keyless logins on a myriad of platforms.

Self Chain lets users enjoy multichain account abstraction (AA), whereby wallets can carry out complex operations without you needing to worry about the specifics of underlying technology. For example, Self Chain–based wallets can execute bundled transactions, carry out cross-chain operations and optimize gas fees, all without user intervention.

What Is the Self Chain Crypto Token (SLF)?

During the project's mid-2024 rebranding from Frontier to Self Chain, its native cryptocurrency was migrated from the FRONT token on the 

 (BNB) to the SLF coin, native to the Self Chain's Layer 1 network. The migration was announced in late August 2024, and as of the time of this writing (Sep 16, 2024), FRONT holders can still migrate their tokens, with no specific conversion deadline provided by the project team.

SLF is used for a wide variety of functions on the Self Chain platform, including the following:

SLF has a total and maximum supply of 360 million. The coin's supply allocation shares are per the chart below:

The SLF coin is available on Bybit as a Perpetual contract with USDT (

). Under this contract, you can trade SLF with up to 12.5x leverage.

Self Chain's innovative system simplifies keyless multichain web3 access, while the versatile LLM assistant helps efficiently interpret user intent to conduct diverse transactions across networks. This is a functional set that few other projects in the industry can provide. In particular, the keyless wallet solution is something that truly sets Self Chain apart. 

While there are a few crypto projects that utilize an intent-focused approach and AI-based chat assistants, Self Chain’s keyless functionality is a rare feature that will undoubtedly attract interest from a variety of users. Navigating myriad DApps and networks and transacting on them without the need for meticulous private key management has just gotten a lot easier — all thanks to Self Chain and its implementation of MPC-TSS.

Advanced

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Self Chain (SLF): The Future of Secure Private Key Recovery

Stacks is integrating with the Aptos Network to bring Bitcoin's utility to decentralized applications through sBTC, a 1:1 Bitcoin-backed token.

The SPX index was up by 0.03%, with key sectors underperforming, including healthcare, consumer staples, and real estate, while energy, consumer discretionary, and industrial stocks outperformed. Coindesk Indices, an index measuring broader cryptocurrency market performance, was up by 2.95%, with Bitcoin and Ether rising by 3.62% and 3.16%, respectively, in the past 24 hours.

Today's top performer is SAGA, which surged 27.3% following its announcement of a new economic model focused on sharing in project success rather than charging gas fees.

Saga (SAGA), founded in 2021, is a Layer 1 blockchain protocol that allows developers to create customized chains for their applications, providing shared security and scaling solutions. 

 focuses on sharing in the success of projects built on its platform, rather than charging gas fees. Projects can launch cheaply on Saga's chainlets, and Saga takes a small cut of token activity once bridged through its infrastructure. As projects grow and their tokens become valuable, Saga can hold, use, or sell these tokens to fund ecosystem growth and buy back $SAGA tokens. This creates a network effect where success drives further success, positioning Saga as a key platform for value generation in web3.

Check Out the Latest Prices, Charts, and Data of 

 to bring Bitcoin's utility to decentralized applications through sBTC, a 1:1 Bitcoin-backed token. This integration allows Bitcoin to be used beyond a store of value, enabling participation in DeFi, gaming, AI, and social platforms on Aptos. The integration follows the resolution of an SEC investigation into Stacks, clearing the path for further Bitcoin scaling advancements. Stacks' recent Nakamoto upgrade has improved its transaction speeds and block production, facilitating this new cross-chain capability.

Yesterday, The total flow for BTC Spot ETFs was $186.8 million, with $0 from GBTC and $186.8 million from non-GBTC sources.

 on Optimism’s OP Mainnet, with 185 million WCT tokens being airdropped to users. The airdrop registration opens on September 24, targeting users who engage with WalletConnect or contribute to open-source projects. WCT tokens will drive WalletConnect's governance and economic structure, initially non-transferable until 2025. The newly formed WalletConnect Foundation will oversee the protocol's transition to a permissionless structure. WalletConnect aims to decentralize further and has seen 240% growth in the past year.

Beginner

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Stacks Integrates with Aptos, Expanding Bitcoin’s Utility to dApps and DeFi

Explore our article to find out what’s the Cipher Code for today’s Hamster Kombat’s Daily Cipher Code.

, where managing your crypto exchange meets the intellectual challenge of daily Morse code puzzles. Released each day at 7PM UTC, these puzzles do more than just test your mental agility; they offer significant rewards that can enhance your strategic influence in the game.

, challenging you to decipher a Morse code each day. Successfully solving these puzzles not only boosts your coin reserves, but also sharpens your critical thinking skills, enhancing both your gameplay and strategic planning.

Today’s Hamster Kombat Daily Cipher: Sep 18, 2024

 Daily Cipher for Sep 18, 2024, is as follows:

 —•••   ••   —•   •—   —•   —•—•   • 

Ensure each Morse code sequence is entered with precision and slight pauses between letters to confirm correct execution and secure your reward.

Gain an early advantage by trading HMSTR tokens through Bybit’s Pre-Market Trading. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

Today's Daily Cipher and the interactive gaming activities available within 

 provide ample opportunities to boost your coin balance and deepen your engagement with the game. Each puzzle you solve not only contributes to your financial growth, but also refines your analytical skills, making every gaming session both rewarding and intellectually stimulating.

Stay tuned for daily updates and expert strategies to maintain your competitive edge in the thrilling world of 

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A Guide to Hamster Kombat's Daily Cipher Code (Sep 18, 2024)

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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