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NewsBTC 2022-03-09 10:54:11

AADollar – A New Generation Stablecoin For a Dynamic Market

The global cryptocurrency market is gradually moving away from the pluralist model of multi asset interaction and is starting to become more centric, revolving around an established and highly capitalized hub of recognized and applicable cryptocurrencies. With the utility token having proven its inability to act as a store of value, the coins and stablecoins are turning into the hub of investment and capital activity on the market. The likes of Bitcoin, Ethereum and USDT Tether are currently holding the position of said hub, with the multiple other altcoins acting as the spokes, revolving around the mainstays, affected by their price movements and developments. Stablecoins have received considerable traction over the last couple of years in light of the many events that have shaken the foundation of the global economy and undermined the reliability of many global fiat currencies. With fiat devaluing and losing its qualities as a store of value against the background of mounting geopolitical tension and rising inflation, the stablecoin is taking on the mantle of a haven for storing accumulated value and savings in an immutable fashion on the blockchain. However, the stablecoin market is considerably overheated. The main problem is the presence of a single dominating stablecoin – Tether, which is a systematic risk for the entire industry. Statistics indicate that Tether constitutes 65% of daily trading volumes of all stable toke...

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