Trust for Stablecoins: USDT is Top Choice for 38%
Too Long; Didn’t Read
The recent de-peg of USD Coin (USDC) has highlighted a flaw in the design of fiat-backed stablecoins, with Circle’s USDC temporarily falling to 88 cents due to the fractional reserve held at the Silicon Valley Bank (SVB), which suffered a bank run on March 10. In a HackerNoon poll, 38% of users trust Tether (USDT), followed by USDC at 22%, and DAI at 14%. While stablecoins offer an alternative to volatile cryptocurrencies, the market remains uncertain, and the recent event with USDC may prompt changes in the design of fiat-backed stablecoins.
Too Long; Didn’t Read
The recent de-peg of USD Coin (USDC) has highlighted a flaw in the design of fiat-backed stablecoins, with Circle’s USDC temporarily falling to 88 cents due to the fractional reserve held at the Silicon Valley Bank (SVB), which suffered a bank run on March 10. In a HackerNoon poll, 38% of users trust Tether (USDT), followed by USDC at 22%, and DAI at 14%. While stablecoins offer an alternative to volatile cryptocurrencies, the market remains uncertain, and the recent event with USDC may prompt changes in the design of fiat-backed stablecoins.
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.