Have you been lately wondering about investing in stable coins? If you have made up your mind, it is the best time to do that. Stable coins are crypto currencies that are backed by fiat currencies or even gold. As a result, they are less volatile in comparison to other crypto-currency.
There has been a positive outlook for stable coins simmering brighter than ever with a US$10 billion sales happening this Tuesday. The influx has increased the market cap of stable coins by 70% in less than two months time.
Most of the investors have been influenced to choose the stable coins that are backed by dollars as a safe haven for investment. Such perspective or trust has driven the demand for USD like denominations. Such a trend could drive better appetite for stable coins in the market and new start-ups who are strategically planning for forking or they have some new coins to offer to solve problems might get quicker funding in no time.
As many economies have decided to ban crypto-currencies citing volatility, security, and national interest concerns, such a deepened approach could evoke trust in the investor community and establish stable coins as an immediate solution or answer to the centralized currency system.
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