Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference . Stablecoins may be pegged to a currency like the U.S. dollar or to a commodity’s price such as gold.
Read moreIs 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).
Read moreWhy is stablecoin interest so high?
Demand for stablecoins constantly exceeds supply . So people with stablecoins to lend can charge premium interest rates, and crypto platforms desperate for stablecoins offer high interest rates to attract new stablecoin lenders. That’s why stablecoin interest rates are so high.
Read moreWhat 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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