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Cryptocurrency: What is an stablecoin and why it affects price?
Cryptocurrency: What is an stablecoin and why it affects price?
Cryptocurrency: What is an stablecoin and why it affects price?.
Opinion | Updated: 25/01/2025
SWI
Stablecoins are cryptocurrencies designed to ease the volatility of digital assets. Stablecoins "attempt to maintain a constant exchange rate with fiat currencies, for example through a 1:1 U.S. dollar peg," Reuters reported.
Stablecoins are cryptocurrencies designed to ease the volatility of digital assets.
Stablecoins "attempt to maintain a constant exchange rate with fiat currencies, for example through a 1:1 U.S. dollar peg," Reuters reported.
According to CoinMarketCap data, the cryptocurrency market is worth $1.2 trillion.
Stablecoins compose $170 billion of the crypto market.Several stablecoins work as reserve backers.
The fourth-largest of them, Terra USD, crashed from $1 to 30 cents last week.
Meanwhile, Tether also broke from the dollar peg to as low as 95 cents last Thursday.
