How is stablecoin created?

As demand increases, new stablecoins are created to reduce the price back to the normal level . If the coin is trading too low, then coins on the market are bought up to reduce the circulating supply. In theory, prices of these stablecoins would remain stable as they are driven by market supply and demand.

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Is there a stablecoin backed by gold?

New Delhi: Gold-backed tokens, often called gold stablecoins, are the latest fad among crypto investors given their recent outperformance . Popular crypto tokens in this class are PAX Gold (PAXG) and Tether Gold (XAUT) and are part of the top 300 cryptocurrencies by market capitalization (m-cap).

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What is the point of stablecoin?

While predictable cryptocurrency may sound like an oxymoron, stablecoins – like their name suggests – were designed to counter crypto’s hallmark volatility and provide a convenient way for crypto traders to preserve their fiat value without having to cash out of the market and to allow users to pay for everyday goods …

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