Gemini has recently been caught up in the aftermath of the crypto bear market as well, yet its stablecoin GUSD (Gemini USD) is holding up despite everything.
By now it has slipped to eighth place by market capitalization among the major stablecoins pegged to the US dollar, with just over $600 million. It is enough to consider that the most capitalized one, USDT, is worth more than a hundred times as much, and even DAI is worth almost ten times as much as GUSD.
Gemini USD
Gemini Dollar, whose ticker is precisely GUSD, made its debut in the crypto markets in late 2018, which was during the most acute phase of the previous post-bubble bear market.
It never lost its peg with the dollar, apart from a drop to $0.90 in March 2020 during the financial market meltdown caused by the onset of the pandemic, and another to $0.93 in May 2021.
Initially it capitalized less than $100 million, but with the onset of the last major bull run in 2021 it managed first to rise to around $130 million
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