Stablecoin is another form of cryptocurrencies that attempts to offer price stability and are backed by reserved assets. A stablecoin can be pegged to a cryptocurrency, fiat money, or exchange-traded commodities like industrial metals.
There are notable many stablecoins available in the market currently, ranging from coins that are backed by fiat currency, gold and metal. However, it is reported that Tether (USDT) is still the stablecoin of choice among traders in the crypto community.
USDT is a cryptocurrency with a value pegged to the value of one U.S. dollar. Despite many controversial claims in relating to this coin including the existing two lawsuits against Tether, Inc., the stablecoin is still widely used in the community.
Besides, it is known that USDT has now moved to a new blockchain, TRON and spreads across exchanges which indicates that the crypto market is still growing. Moreover, despite a rocky path, USDT has managed to expand its supply more than $4 billion in 2019.
Last but not least, Tether USDT’s market share remains above 97% despite a big competition among other stablecoins and reportedly has never succumbed any major loss besides a $0.85 drop in late 2018.
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Nurul is an English Language graduate who is highly passionate on writing, she literally breathes on it. An avid reader and a critical thinker, she covers on blockchain news during day and weeps at sad novels at night.