In 2020 that was the year of stable coins. The stable coin supply is quietly below from $5 billion to $28 billion and also the market continues to see intrinsic growth.
In January 2021 the current stable coin was over $33 billion.
The crypto is one of the most volatile assets and the stable coins are USDC and USDT and the user finds the same comfort by holding a fiat.
What is Stablecoin?
These are cryptocurrencies whose value is backed by other assets such as the US dollar, yuan, gold, and euro.
The stable coin creates a degree of stability for traders and attracts and gives courage to more people to merge into the cryptocurrency world.
Now we see the comparison of stable coins.
The USDC coin was launched in October 2018 by the center consortium and it is powered by coinbase and also circle internet financial and it is built on the ethereum blockchain like ERC-20 token.
They have some secured licensing to operate in a respective jurisdiction manner when compared to the tether holdings.
In 2017 USDC is circulating and it is steadily increasing the transactional volume and it has a user adoption.
Tether is issued by the holder of the tether the iFinex is a parent company and this is one of the largest stablecoin in the market cap and also the trading volume is so high.
In that stablecoin market, the coins are more transparent and that borderline is a monopoly.
There is a consideration of liquidity and they have a trading volume with investors and also traders. There is an edge in the category in USDT and the USDC has maintained the substantial trading volume that is easily accessible in the major cryptocurrency exchange.