Stablecoins: How Their Formation Ties in with Cryptocurrenciesby@dankhomenko
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Stablecoins: How Their Formation Ties in with Cryptocurrencies

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Stablecoins are cryptocurrencies whose value is tied or pegged to either the value of another currency, another commodity or a financial instrument. The main stablecoins – Tether, USB Coin and Balance USD – have dominated the market for a long time, accounting for about 90% of stablecoins’ total market volume. The most grievous example is the loss of the TerraUSD (UST) stablecoin tied to the US dollar, which was unable to withstand the pressure from traders. The only island of stability present in the entire crypto space is (and should always remain) stablecoins.

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