Stablecoins Is In Constant Demand

The cryptocurrency market is known to be volatile. The need for fiat-pegged stablecoins is in constant demand.

What are stablecoins?

Stablecoin is a cryptocurrency that is designed to minimize volatility by pegging to a more stable asset such as popular fiat currency USD, EURO or British Pound.

Leading the stablecoin trading volume and by far the largest in terms of market capitalization is USDT, issued by the company Tether Holdings.

Other stablecoins include USDC, BUSD, dai (DAI), terrausd (UST), liquidity usd (LUSD) and paxos standard (PAX).

There are currently 48 stablecoins in existence with overall valuation worth $97 Billion with trading volume of $194 Billion according to data from Coingecko.

With the market volatility, stablecoins are essential to protect users from sudden depreciation of value of assets.

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