Cryptocurrency investors and the advocates have been facing the tumultuous time from the last two weeks. They have watched the market capitalization of the crypto market fall by 90 billion dollars or nearly half of its valuation from the starting of the month. Some optimism is growing in the space as the developers and the technology future seekers avoided the daily compulsion over the price changes and even focused on the new adoption.
Stablecoins have been growing subfield within the cryptocurrency world. They got made popular by the tether’s USDT currency. Stablecoins are as a natural outlet for the developers and investors frustrated with the extreme rate volatility of Bitcoins.
Tether has minted 1.83 billion dollars’ worth of USDT. It appeared to have the market concerned and the company has given a route to competition over the scandals which are related to bank holding and dealings with the Bitfinex exchange. A new crop of stablecoins have been drawn of valuation pegging with a variety of the interest of investors and the other developers, instead of going to transact the currency in a more stable digital asset.
The profit to be found in gold-backed stablecoin as per the expert’s survey. It is giving much-needed exposure to the crypto market in a time of otherwise terrible price movement.
The director of Woo Hon Fair Group, Darrin Woo said that he has recently invested in called G-Coin. It is as opposed to the Tether coin, and supposed to be backed 1:1 with the US dollars. As of the G-Coin is a stablecoin, it is backed by the price of gold which is at the pity of inflation associated with the currency of G-Coin. The other investors are exposed to some volatility in the form of precious metal, and they have the ability to get advantage from price appreciation in the market. It is a feature which tends to be lacking as the digital investment for most stablecoins. Stablecoins are becoming a more attractive feature for new ventures into the crypto world. It can prove long-term stability to holders; cryptocurrency can continue to give more market share.