October 21, 2020

TOP 5 cryptocurrency stablecoins pegged to the US dollar

TOP 5 cryptocurrency stablecoins pegged to the US dollar

The most popular stablecoin Tether (USDT), which is backed by the US dollar at a 1: 1 ratio, recently announced an increase in capitalization to $ 15 billion, but many users are still tormented by the question: "What will happen next?"

Proceedings with the American Attorney's Office,moving $ 1 billion off the TRON blockchain haunt the coin holders. Many even talked about the possibility that Tether might even "close", although this is certainly unlikely. Mining-Cryptocurrency.com has compiled its rating of possible alternatives to USDT.

  1. Binance USD (USDB) Is a digital dollar from a cryptocurrency exchangeBinance. The stablecoin is released in partnership with the Paxos project and is approved and regulated by the New York State Department of Financial Services (NYDFS). USDB was launched last year as an alternative to the fiat dollar. Today, stablecoin is actively traded on the exchange, and can also be used as a payment asset in DeFi projects.
  2. USD Coin (USDC) Is a crypto dollar issued by the Coinbase exchange,launched back in 2018. The stablecoin is backed by the US dollar and can be used as a centralized banking asset, since Coinbase has a BitLicense, which allows the site to operate in New York. The stablecoin is controlled directly by Coinbase, so you can buy a coin right on the site. The coin's capitalization exceeds $ 2 billion.
  3. Neutrino USD (USDN) - algorithmic stablecoin backed byown Waves token. Unlike centralized fiat-backed stablecoins, USD-N is issued via a smart contract and backed by market makers. The capitalization of the asset exceeds $ 26 million. Recently, Waves announced the launch of two leveraged tokens: BTCUP (a long asset, the price of which increases with an increase in the BTC rate) and BTCDOWN (a short asset that grows with a fall in the BTC rate), which are traded in a pair with USDN.
  4. TrueUSD (TUSD) - a stablecoin issued on the Ethereum platform,by TrustToken. The platform partners with registered fiduciaries and banks that hold funds supporting TrueUSD tokens. The TrustToken project itself does not have access to funds. Stablecoin capitalization is $ 507 million.
  5. StableUSD (USDS) - a TUSD clone that is also released on the platformEthereum. The current supply of StableUSD is 90,000,508,161,47935, of which 540,530,02536011 are in circulation. Stablecoin is listed on 8 crypto exchanges. According to the developers, the funds that provide the value of the coin are stored in escrow accounts, and the team members themselves do not have access to them.

TOP 5 cryptocurrency stablecoins pegged to the US dollar

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