Which stablecoins were actually 'stable' during this week's sudden Bitcoin pr...
Crypto traders flocked to the safety of stablecoins during the Sept. 7 market crash. A sharp sell-off across the cryptocurrency market Tuesday—that saw top tokens like Bitcoin (BTC), Ether (ETH), Cardano (ADA), and Solana (SOL) fall by double-digital percentages—created a venue for stablecoins to prove their worth.The fixed-price cryptocurrencies offered interim protection to traders from the notorious crypto price volatility. They did so by almost maintaining their one dollar-peg and offering sufficient liquidity to traders that looked for a safety net during the market decline.Blockchain....
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As the title suggests, this week has been stable for the most part. Take the world stable with several grains of salt, as stable in cryptocurrency is still volatile for most people to stomach when they have been used to the relative stability of the dollar and people in precious metals. For example, let’s take a look at some of the more recognizable cryptocurrencies such as Litecoin and Darkcoin. Litecoin has stayed in the $5 range, with volume staying around the $2.5 million mark. With a market cap that Litecoin possess, I fully expect Litecoin to recover from the downward trend it has....
Ethereum’s steward moved part of its crypto coffers this week, converting a chunk of ETH into stablecoins as it adjusts how it funds projects and grants. Related Reading: Bitcoin Jumps To $120K, Catapulting Strategy’s Holdings To Record $77.4 Billion Foundation Moves To Stablecoin Holdings According to reports, the Ethereum Foundation converted 1,000 ETH into stablecoins […]
Stablecoins are a new idea that is being advanced by some people in the cryptocurrency community. A stablecoin is a digital currency with a flexible supply. The idea behind such a coin is simple: we create a cryptocurrency that uses some kind of metric to track demand for the coin, which will trigger an automatic increase or decrease in the coin’s supply. This is supposed to keep the purchasing power of the currency stable — hence the term “stablecoin.” The motivation behind the idea of a stablecoin is the belief that low purchasing power volatility will be the main driver behind....
Are stablecoins really stable? An in-depth case study based on the third-biggest stablecoin in the world answers the industry’s most pressing concerns. Stablecoins have emerged as significant players in the crypto market this year, driven by user demand for flexible liquidity in fiat currency times. These currencies are defined as a type of digital currency that can be pegged to underlying real-world assets or backed by them. These assets can be anything from fiat money, commodities like gold or silver, or even another cryptocurrency. As their name suggests, stablecoins are designed to....
Decentralized stablecoin DAI, native to Maker protocol, might become a major leader in the sector over the coming years. The digital asset was the most stable of the stablecoin in a period of 9 months, according to research published by Best Brokers. Related Reading: Ethereum Name Service (ENS) Moves Silently With 20% Rise, Will Price Retest $27? A stablecoin is a digital asset whose value is pegged to the U.S. dollar in a 1:1 parity. The concept is controversial in the crypto industry, as some of the most popular and valuable stablecoins have de-pegged and become unstable at some point....