Cryptocurrency: Which is the most stable and why? – Marca
Here’s a list of Stablecoins that are currently ranked amongst the best for 2022
Cryptocurrency is an umbrella term that refers to digital currencies built on the blockchain. Cryptocurrencies have grown in popularity among the general public due to their ability to be traded for potentially lucrative returns.
Furthermore, many cryptocurrencies include powerful utility features such as smart contracts, cross-platform interoperability, and lightning-fast transaction speeds.
However, some aspects of cryptocurrency, such as its relatively high volatility and unpredictability, can elicit a cautious and measured response from existing and potential investors alike.
There are also cryptocurrencies whose value fluctuates infrequently and are known for their stability when compared to others such as Bitcoin, Ethereum, and others. These coins are known as ‘StableCoins.’
This list of the most stable cryptocurrencies is sorted by market cap because it is regarded as a true indicator of the value and worth of stablecoins because the majority of them are pegged to the USD with a value of one.
Tether (USDT) is one of the crypto market’s oldest stablecoins. It was first introduced in 2014. Tether is also the fourth most valuable cryptocurrency in terms of market capitalization, as well as one of the most stable cryptocurrencies.
USD Coin (USDC) is also pegged one to one to the USD. It was launched in 2018 and is managed by Circle and Coinbase through the Centre Consortium, which they co-founded.
Binance USD (BUSD) is a stablecoin offered by Binance, the world’s largest crypto exchange. The New York State Department of Financial Services has approved the use of BUSD (NYDFS).
TerraUSD (UST) is a stablecoin that Terra provides. It is intended to track the value of one US dollar, so it is pegged at one to one. TerraUSD is the 31st most valuable cryptocurrency in terms of market capitalization.
Dai (DAI) is a stablecoin that differs from the others on the list. Dai is backed by ether tokens and is pegged to the USD. Dai was introduced by MakerDAO in 2015 and is the 36th most valuable cryptocurrency by market cap.
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