RATE Group | Explosion Of Stablecoins Causing Heavy Chaos For The Cryptocurrencies
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Explosion Of Stablecoins Causing Heavy Chaos For The Cryptocurrencies

17 Apr Explosion Of Stablecoins Causing Heavy Chaos For The Cryptocurrencies

Posted at 04:03h in Cryptocurrency News by

  • Stablecoins’s supply increases and reaches $8 billion by April, while cryptocurrencies faced significant fall.
  • COVID-19 is one of the reasons that is serving in this cause.
  • Stablecoins’ current market capitalization is equal to its whole 2019’s stats.

Another chaos arises in the global market of cryptocurrency due to the global coronavirus epidemic.

Cryptocurrencies are becoming weak in front of the stable coins, as due to the market conditions, traders are choosing stableco ins over cryptocurrency.

Cryptocurrencies are now facing heavy danger due to the increase in the trade of stablecoins. First, let’s understand what are stablecoins. Stablecoins are well-designed cryptocurrencies that adopted the manners to decrease the volatility in them. Stablecoins works on the mechanism of a pegged exchange regime. This method helps these currencies to have a stable pattern due to the policy of fixing up the prices. Due to these market conditions didn’t affect the prices of the…

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