Topic: Is the market saturated with too many stablecoins? - page 3. (Read 462 times)
in my opinion stable coins are useful to be able to maintain a certain balance on the various markets apparently all the big exchanges have their own but in my opinion it's okay this way
The popularity of stablecoins are gaining big supporters that a lot of crypto projects are directed to it. They don't have the volatility similar to other crypto assets like bitcoin and other altcoins, that is why stablecoins have become popular in the digital-currency industry. I do though agree that they are getting saturated in the market, stablecoins stabilize an otherwise volatile cryptocurrency ecosystem.
will be stable if the number of other coins continues to grow, so everything will be balanced but if the stable growth of the faster coins will probably have an impact on the market, of course usdt be the top because it becomes the first stable coin.
Actually depends on the users. Most traders will still pick USDT cause most every exchanges support tether, I think some stablecoin are also good but there are too many other projects releasing their own stablecoin. Specifically Binance, which releases a lot of stablecoin per countries supported.
There is no need for more stable coins. We've got plenty of them trying to get as much as volume that they want. The Gemini dollar, the USDC of Coinbase and soon we'll see more of the CBDC type of cryptocurrency which goes down to this category.
There are other stablecoins like fiat cryptocurrency used in other exchanges its not that it is not needed but it is prefer of course by other trader that convenient for them to use it. 
With more numbers, we would have better options. As you already stated, Tether is the most used stable coin but it's been pointed out several times that Tether is issuing coin without having an equivalent escrow holding of USD. This makes it an unsecure option, yet people are using it. It's mostly because they can't find a better solution. For a truly stable coin, it should be backed by the thing it's pegged on. USD stablecoin escrowed with Ethereum don't make sense. What if ethereum go zero overnight?
There is no need for more stable coins. We've got plenty of them trying to get as much as volume that they want. The Gemini dollar, the USDC of Coinbase and soon we'll see more of the CBDC type of cryptocurrency which goes down to this category.
The 2017 pump has something to do with Tether and I think in the nearer future, these stable coins will play a factor for the next bull run.
The 2017 pump has something to do with Tether and I think in the nearer future, these stable coins will play a factor for the next bull run.
Seems like Tether has basically made other stable coins obsolete. If something happens to Tether like not enough backup assets or trust issues, then it will be quite bad for the industry.
I dont think stablecoins will make the market saturated , its like hedging funds in fiat. What matter is having a huge number of altcoin. This makes Bitcoin hard to grow. Imagine you are buying Bitcoin but dumping it to buy an altcoin and joining ICOs.
I've noticed an increase of stablecoins on the market over the past few years. There are now many different types of stablecoins for USD, EUR, and other top Fiat currencies in the mainstream world. Some of them are legit, while others are just pure hype (scam). To my surprise, Tether (USDT) is the top stablecoin in market cap. For a company which often lacks transparency of its USD holdings, I think that Tether is just an over-hyped coin that will see its bubble burst real soon.
As far as other stablecoins go, I believe that people will only choose those that are on the top ranks in market cap. I wonder if so many stablecoins are actually needed or necessary for the blockchain industry to thrive? Do you think that the market is really saturated with too many stablecoins? Or is it still fine?
What are your thoughts?
Well it is a free market and like hundreds and thousands of crypto coins we may also see a lot of stablecoins in future because every big company will be launching their own stablecoin and also do not forget about the official digital currencies that many countries are working on they will also be like stablecoins we already have in the market. As far as other stablecoins go, I believe that people will only choose those that are on the top ranks in market cap. I wonder if so many stablecoins are actually needed or necessary for the blockchain industry to thrive? Do you think that the market is really saturated with too many stablecoins? Or is it still fine?
What are your thoughts?
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The market is fine with so many stable coins. With many stable coins around the market, people would have many options that they can choose to save their money value. I don't think that the market is saturated with too many stable coins because I think that can be a hard competition between each stable coin. We will see what people choose with so many stable coins, and maybe with that, we will know what stable coin which will be worth holding for the money value in any situation.
Almost every stable coin has the same use case which is for using trading that is the reason why people choose tether which got huge marketcap so the traders won't have any difficulties on liquidating them.But it has no real use in the crypto market, probably people can claim it has stable value so it is suitable for day to day life but its actually have no difference with the current fiat digital payments.
I've noticed an increase of stablecoins on the market over the past few years. There are now many different types of stablecoins for USD, EUR, and other top Fiat currencies in the mainstream world. Some of them are legit, while others are just pure hype (scam). To my surprise, Tether (USDT) is the top stablecoin in market cap. For a company which often lacks transparency of its USD holdings, I think that Tether is just an over-hyped coin that will see its bubble burst real soon.
As far as other stablecoins go, I believe that people will only choose those that are on the top ranks in market cap. I wonder if so many stablecoins are actually needed or necessary for the blockchain industry to thrive? Do you think that the market is really saturated with too many stablecoins? Or is it still fine?
What are your thoughts?
As far as other stablecoins go, I believe that people will only choose those that are on the top ranks in market cap. I wonder if so many stablecoins are actually needed or necessary for the blockchain industry to thrive? Do you think that the market is really saturated with too many stablecoins? Or is it still fine?
What are your thoughts?
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