Stablecoins. Is it worth keeping money in USDT.
09 Jul 2022, 06:30
š Stablecoins. Is it worth keeping money in USDT?
Stablecoins are cryptocurrencies attached to other currencies such as fiat money or other cryptos.
The reason people love stables is that they are not subject to volatility.
š² USDT stablecoin is the third currency in the ranking after Bitcoin and Ethereum with a market cap of $65,958B and a daily turnover of $48,516B.
Such currency is used for simple and fast money transfers, day-to-day payments, hedging portfolios and even getting interests at an attractive APR.
š² While USDT is considered a stable asset and is backed by USD in a proportion of 1:1 its course went down once to $0.9485 in the last 90 days.
Traders and investors lose faith in the token esp in view of the uncertain nature of its reserves.
It began when Luna and linked to it Terra USD dropped to zero and lost a combined market cap of $60B.
š Read more interesting facts about other stables on Medium.