Global stablecoin market value PK! Who is the gold substitute in the bear market
Jul 08, 2025 pm 07:24 PMThis article will discuss the world's mainstream stablecoins and analyze which stablecoins have the risk aversion attribute of "gold substitute" in the market downward cycle (bear market). We will explain how to judge and choose a relatively stable value storage tool in a bear market by comparing the market value, endorsement mechanism, transparency, and comprehensively combining common views on the Internet, and explain this analysis process.
Recommended official website registration address of mainstream cryptocurrency exchange in 2025:
Ouyi OKX:
Binance Binance :
Gateio Sesame Opening :
Huobi htx: [
The safe-haven properties of stablecoins
During severe volatility in the crypto market, especially during bear markets, investors tend to convert their holdings of high volatility into assets with relatively constant value to avoid risks. Stablecoins have become an ideal temporary haven because of their value and anchored to fiat currencies such as the US dollar. Its core role is to provide a stable scale of value and medium of transaction without leaving the crypto ecosystem, and its stability is the basis for it to be regarded as a potential "gold alternative".
Comparative analysis of mainstream stablecoins
To determine who is more suitable as a safe haven asset, we need to compare from several key dimensions:
1. USDT (Tether): As the largest and oldest stablecoin on the market, USDT has unparalleled liquidity and extensive trading pair support. This is its core advantage. However, according to ongoing discussions on the Internet, the transparency of its reserves has been the focus of community attention, and although Tether has continued to release reserve reports, related concerns still exist.
2. USDC (USD Coin): USDC is widely regarded as a representative of compliance and transparency . It is issued by regulated financial institutions and is publicly audited monthly by top accounting firms, proving that its reserves are made up of high-liquid assets such as cash and short-term U.S. Treasury bonds. This transparency has won it the trust of a large number of users and institutions that focus on risk control.
3. DAI: The unique feature of DAI is that it is a decentralized stablecoin generated by over-collateralized crypto assets . Its operation does not depend on centralized institutions, and all collateral and liquidation data are publicly verifiable on the chain. DAI has unique appeal for users who pursue extreme decentralization and censorship resistance, but its mechanism is relatively complex, and its stability depends on the value of collateral assets and the efficiency of the liquidation mechanism.
Who is closer to "golden alternative"?
Overall, the core characteristics of "gold substitute" are stable value and high credibility. From this perspective, although USDT dominates with its huge market capitalization, the general view on the Internet believes that trust and transparency are more weighted when considering the demand for risk aversion. Therefore, with its clear regulatory path and transparent reserve fund proof, USDC is closer to the role of "gold alternative" in a bear market, providing users with stronger confidence. For users who are crypto-native and pursuing the concept of decentralization, DAI provides an alternative that deserves attention. When choosing, users are advised to use the transparency and compliance of assets as important reference standards.
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