The cryptocurrency market has been through quite a lot in recent times and 2018 has especially been a dramatic year for cryptocurrencies. From its mighty crash after its 2017 surge to regulatory crackdowns, the market is almost always fighting one battle or the other.
In light of these recent events, investors are beginning to seek ways of reining in gains by switching to coins perceived to be stable. Hence, it would seem that the successful integration of Bitcoin and the constant dramatic turns of events in the crypto scene appear to have heralded the rise of stablecoins.
Top 10 Stablecoins
Stablecoins are majorly cryptocurrencies with their intrinsic values linked to another asset which could be fiat currencies or gold. They are observed to be stable and reliable.
To that effect, the market has seen an influx of stablecoins with quite a number of them trending. Hence, here are ten stablecoins making waves in the market.
1. Tether (USDT)
As with the meteoric rise of Bitcoin to fame, tether has managed to gain traction. Integrates in 2015, the cryptocurrency came as a fiat-collateralizing form of stablecoin. It pegs to the US dollar in a 1:1 ratio. Though the coin shows involvement in a lot of controversies lately, it is one of the top stablecoins in the market lately.
2. MakerDAO (DAI)
Created by MakerDAO. DAI came early in 2017 with its backing mainly in Ethereum though there was an initial proposal for its link to the US dollar. Thereafter, as such it counts under a crypto-collateralizing stablecoin.
3. TrueUSD (TUSD)
TrueUSD is US stable coin. It bears a striking semblance to the USDT however, it is dissimilar in a number of ways. The TUSD is a fiat-collateralized cryptocurrency which backed legally and runs as transparently as possible. The stablecoin transactions are verified and attested by third-party. It is centralized in a way & remarkably one of the most stable cryptocurrencies in the market today.
It is non-collateralising however, instead, it is built upon Hashgraph and its stability is controlled by smart contracts.
Like carbon, This price stability controlled by a theory based pegging system. And it is pegged with the USD at the moment with aims at automatically pegging other fiat currencies later on.
It is a bitcoin-collateralised cryptocurrency. Though not pegged yet with the USD, it aims at being pegged with other currencies as well
It is ether-backed with its trade fees based on IDEX exchange & currently targeting being pegged with the USD.
Also, one of the theory based automated pegging system and is highly dependent speculations and a major expansion for price stability.
Also based on the theory based system with its value proposed to be pegged with the USD.
This is also one of the stablecoins that run their values on an automated pegging system and is one of the major stablecoins gearing towards balancing the crypto market.