Stablecoin Development (30-Second Explanation of Stablecoins) #Shorts #Cryptocurrency

In the recent #cryptocurrency world, the percentage of #stablecoins in the total #crypto market is surging consistently high to over 17%. According to a recent report by #coingecko , the value of all stablecoins equals $155 billion, while the total market capitalization stands at $946 billion.

But what is a Stablecoin?

Basically, a stablecoin is a cryptocurrency designed to fluctuate as little as possible from a specific value. The most popular stablecoins make use of the U.S. dollar as a benchmark and maintain a price very close to $1 if they are functioning as intended.

Some stablecoins are pegged to other currencies such as the euro or the Japanese yen, while the decentralized stablecoins are pegged to the value of digital assets, and stablecoins that track the price of precious metals like gold and silver.

#YTShort #CryptoShorts #Blockchain #BlockchainTechnology #30Seconds ... https://www.youtube.com/watch?v=5c4zcgD2nyk