The birth of more stablecoins, which has coincided with significant market losses for traditional cryptocurrencies, has drawn attention to these fiat-pegged digital assets. Dedicated platforms are now aggregating statistical data about stablecoin markets for the benefit of traders.
The Stablecoin War Is Heating Up
The last couple of months has seen the arrival of new coins poised to challenge the dominance of the leading stablecoin tether (USDT). Two new “regulated” cryptocurrencies, also pegged to the U.S. dollar, were announced after receiving approval from the New York State Department of Financial Services in September. The Gemini dollar (GUSD) and paxos standard (PAX) are both backed one-to-one with fiat currency.