Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Cryptoknowmics 2022-05-20 15:30:07

Stablecoins: Still a Bridge Between Cash and Digital?

Cryptocurrencies have always played a crucial role in bridging cash-based markets with the digital economy. In established and emerging markets, the success of digital services and products depends on how easy it is to switch from cash to digital money. Cryptocurrencies such as Bitcoin have been doing an excellent job of serving as a bridge between the two. Cryptocurrencies are volatile, and they lack clear regulations. Regulatory bodies frequently issue warnings on the usage of these coins. These few points create hesitance in individuals to use cryptocurrencies as cash replacements. Stablecoins provide a solution to this problem. Bringing Cryptocurrency and Fiat Together The popularity of cryptocurrencies is growing in emerging markets. Stablecoins are crucial for converting cash into digital currency without dealing with the volatility associated with crypto assets. In their most basic form, stablecoins are also just cryptocurrencies. However, their prices are remarkably stable. The value of these bonds depends on the value of a reference currency, which is typically the US dollar. Tether, the most popular and widely used stablecoin, always has a price based on around one USD. Another example of a stable coin is UST, which suffered a devastating crash not long ago. According to CoinMarketCap, hundreds of stablecoins are in circulation, and their combined market value is around $160 billion. The Future of Stablecoins There a...

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