5 Most Popular USD Pegged StableCoins in the Cryptoverse

What is StableCoin? Stablecoins are cryptocurrencies designed to minimize the volatility danger of the notoriously unstable Crypto market. In theory, a stablecoin can be pegged to a cryptocurrency, fiat money, or exchange-traded commodities (such as precious metals or industrial metals). Since the advent of USDT - Tether in 2015, traders have felt a greater sense of safety from the market's constant volatility. Stablecoins today are blockchain-based and usually tied to traditional assets, currencies, or a basket of assets and currencies.…

March Sees BTC/USDT Trading Volume Triple While USDC and PAX Recorded an Upsurge

Bitcoin's massive market crash in March rocked the whole crypto market. It introduced a long period of volatility. Consequently, several altcoins plummeted too. Things were different, though for stablecoins that experienced impressive gains over Bitcoin (BTC). Hedging Against BTC Many crypto traders entered the stablecoin market to hedge against Bitcoin's increasing volatility. Tether, the popular and highly controversial stablecoin dominated transactions. According to BitMEX, the BTC/USDT trading almost tripled in March (21.6 million BTC). It had previously reached a value…

Beginner’s Guide to MakerDAO – Resolving the Fight Against Volatility

The DeFi Ecosystem Decentralized Finance, or more commonly known as DeFi, is the newest trend in the cryptocurrency sector. After "Colored Coins," Smart Contracts, and ICOs, DeFi has taken the limelight. It has opened the door to a whole new branch of decentralized technologies. Among the several hundreds of projects that focus on bringing Decentralize Finance to the masses, none has been as successful as the MakerDAO Network. The Need for MakerDAO The MakerDAO is a decentralized smart contract platform…

Stablecoins Surge in Market Share Amid Crypto Market Crumble

Crypto stablecoins present an efficient and easy way of managing crypto volatility. Volatility in the crypto market is often regarded as the boon and bane of crypto trading. While on the one hand, it allows traders to accumulate substantial profits, it can cause significant losses to crypto traders or even lead to missing a perfect opportunity to trade. Stablecoins function to cushion investors from intense volatility witnessed in the crypto market by providing a less volatile means to employ in…

A Beginner’s Guide to Understanding the Law of Supply and Demand in Cryptocurrencies

Cryptocurrencies are units of exchange, and they hold value because people decide that they do. While any other currency or asset type does not back others like Bitcoin, stablecoins are backed by such currencies or assets to stabilize them against the highly volatile nature of the digital currency. According to the law of demand, all other factors withstanding, highly-priced resources have less need. Similarly, the law of supply states that the quantity supplied is directly proportional to the price. Therefore,…

The Impact of the Asset-backed Cryptocurrencies to the Crypto Industry

In a decentralized world, price fluctuation is something that crypto enthusiasts have become accustomed to, especially the emotional roller coaster of huge price swings. The crypto market can be described as pirates at sea where the bigger ships are always trying to conquer the smaller ships to amass wealth and treasures. Crypto enthusiasts found a way to curb all these highly volatile crypto markets by introducing stable cryptocurrencies, which serve as a reliable hedge during market fluctuations. There are three…

Stablecoins Explained – The Distinct Cryptocurrency Instrument

Data reveals that the overall market cap of stablecoins stands at over $35 B as of January 21, 2021. On top of that, the trading volumes are gradually rising as the crypto instrument closes in the $90 billion marks.  Investing in the digital asset world has become a difficult task for goal-oriented minds. However, the onset of stablecoins has proven to be a useful tool for trading in the market today. Stablecoins can be described as cryptocurrencies tied to other valuable…