The Adoption Of Stable Coins

A report states that the adoption of stable coins has been superlative as

“The total market value of all stablecoins is $3 billion, or 1.5% of the total market value of all crypto assets; Tether comprises 93% of the all stablecoin market value”

Tether (USDT) is the second most effectively traded digital currency (~60% of BTC day by day trading volume) and not long ago it additionally entered the top 10 crypto asset rankings by market value.

To the extent of listing on exchanges are concerned, the report states,

“Stablecoins are listed on over 50 different exchanges at present, with Tether featuring the greatest number of total individual exchange listings (at least 46)“

“Stablecoins have had success gaining listings on major exchanges, with eight stablecoins (42% of live coins) featuring one or more Tier-1 exchange listings: Tether (6), TrueUSD (5), SteemDollar (4), NuBits (2), BitBay (2), Gemini (2), Paxos (2), Numins (1), STASIS (1), HelloGold (1)”

With stablecoins booming in the US, another entrant from the UK would make the competition more beneficial. Having stablecoins in different monetary standards will help in getting more individuals into cryptos as they would have a stable home currency token to bed on in crypto markets.


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