ETH: Stablecoin Prices Against the US Dollar
Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.
The price of each major dollar stablecoin in US dollars on exchanges, hour by hour: how close each one trades to the $1 it promises.
Why use it. A stablecoin is only useful while it holds $1. Drops below the peg show when holders doubt the reserves or the issuer, or when the market cannot absorb a wave of selling; prices above $1 show demand for that coin outrunning new supply. How to read it. Lines near 1.00 are healthy. A dip below $0.99 that lasts several hours is a depeg (USDT on 12 May 2022 and 10 November 2022); short gaps are hours in which no market traded $25,000. A day is the volume-weighted average of its counted hours, and the latest day is a partial.
Calculation. Computed by CryptoKeyhole from Kraken's and Coinbase's public market data: each stablecoin's own US-dollar market, hour by hour. A market's hour counts only when at least $25,000 traded in it, because several of these markets trade a few hundred dollars an hour and a single stray trade would look like a depeg; an hour with no counted market is left empty. The price of the hour is the volume-weighted average of the counted markets' hourly average prices (Kraken's own volume-weighted price; for Coinbase, which publishes none, the mean of the hour's open, high, low and close). History: Kraken's public data gives its last 30 days, from 9 October 2026; Coinbase's goes back to each market's listing (USDT from May 2021, USDS from July 2025, USD1 from August 2025). Prices on exchanges, not on chain: a coin can trade differently in on-chain pools.