Stablecoins shot to prominence a year ago because of the ascent of Tether, a digital currency pegged to the dollar. As these digital currencies prices are pegged to certifiable assets, for the most part, the dollar, they play a vital role in giving price stability of a mainstream currency yet at the same time hold their interoperability and digital nature. Henceforth they are in great interest among investors, exchanges, and traders as they give impermanent protection in alleviating the volatility of digital currencies.
However, gradually these appear to wind up a bridge between the traditional and digital financial worlds as new investors discover comfort in holding them and increase understanding first before hopping into crypto investing. With stable coins, prevalence persistent to develop among the trader community, these new investors who need a cut of digital currency are additionally adding to its rising interest.
The interest for these stablecoins is huge to the point that as indicated by a report discharged by crypto wallet provider Blockchain said there are currently more than 50 stablecoin projects being worked on. The report revealed that 23 stablecoins (40%) are live and 34 stablecoins (60%) are at the pre-launch