What Usds is designed to do
Usds is a fiat-backed stablecoin, currently ranked 11th by market capitalization among the assets we track. Usds is a tokenized claim on reserves held by its issuer. The design goal is a stable peg, which makes the relevant questions about Usds reserve quality and redemption, not upside.
USDS is a stablecoin designed to maintain a 1:1 peg with the US dollar, ensuring price stability for digital transactions. It aims to facilitate seamless currency exchange in the cryptocurrency ecosystem.
How the peg is meant to hold
A fiat-backed stablecoin holds its peg through redemption: if USDS trades below its target, arbitrageurs buy it cheap and redeem at par, and vice versa. That arbitrage only works if redemption is real and reserves are sufficient.
Background & fundamentals
Usds first went live in 2024, giving it roughly 2 years of on-chain price history to draw on. In sector terms it is most often filed under Arbitrum Ecosystem, Base Ecosystem, and Ethereum (ETH) Token (ERC-20).
Where Usds sits in the market
With USDS near $0.9997, Usds carries a market capitalization of $11.07B. Around $76.21M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 0.69% of the float — on the quieter side, which can mean thinner liquidity for large orders.
Usds carries no fixed maximum supply; issuance follows a programmatic schedule rather than a hard cap. The token is roughly -37% under its record of $1.58 — a meaningful but not catastrophic drawdown. Measured from its all-time low of $0.3000, USDS is up +233%.
What the price history shows
The tape currently reads 24-hour +0.09%, 1-year -0.91%. USDS sits near the top of its 53-day range (about the 89th percentile of recent closes), so it is closer to local resistance than support.
Volatility profile
Recent action puts Usds in the Low-volatility band — it has been relatively stable, with moves typical of large-cap, mature assets.
How to evaluate a stablecoin like Usds
The honest checklist for USDS is short:
- Reserve quality — what backs USDS — cash and short Treasuries are safer than commercial paper or crypto collateral — and who attests to it.
- Redemption access — whether holders can actually redeem at par, and how quickly, under stress.
- Regulatory standing — the issuer's jurisdiction and licensing, which increasingly determines which stablecoins survive at scale.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
