Stablecoins have existed in the cryptocurrency space for a few years, but only gained prominence in the last year or so. Stablecoins are cryptocurrencies that are backed by other assets or benchmarks, such as the US Dollar, and, as the name suggests, they are stable in nature — or are at least intended to be so. Bitcoin is known for its volatility and that has led some people to believe that, while it is a good store of value, it may not be the most convenient form of payment. Stablecoins that gained a lot of popularity, thanks to Tether’s USDT, are now flooding the cryptocurrency market. There are over one hundred different stablecoin projects that exist in the market today with several more still to be launched in the coming year. Cryptocurrencies are gaining traction not only from retail investors, but also from institutional investors, which makes it the most apposite time to discuss their role in mass adoption.
Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/
Read more here: https://www.etoro.com/blog/market-insights/what-role-will-stablecoins-play-in-crypto-mass-adoption/
