{"id":14317,"date":"2022-03-22T16:49:54","date_gmt":"2022-03-22T16:49:54","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/03\/22\/heres-why-stablecoins-and-not-bitcoin-is-the-new-safe-haven\/"},"modified":"2022-03-22T16:49:54","modified_gmt":"2022-03-22T16:49:54","slug":"heres-why-stablecoins-and-not-bitcoin-is-the-new-safe-haven","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/03\/22\/heres-why-stablecoins-and-not-bitcoin-is-the-new-safe-haven\/","title":{"rendered":"Here’s why Stablecoins and not Bitcoin is the new “safe haven”"},"content":{"rendered":"
\n

Stablecoins seem to have done very well in an otherwise turbulent year for most mainstream cryptocurrencies. While most cryptocurrencies have retreated from their deficits, Stablecoins have kept their course up.<\/p>\n

Now the question remains- Should investors continue to look for stable coins for long-term gains? Well, it is important to note that after years of market presence, the role of Stablecoins has been regularly reviewed. Coins like Tether have a massive $ 80 billion market capitalization at the press time.<\/p>\n

One of the primary ideas behind the launch of Stablecoins was to bridge the gap with Fiat currencies. Despite all the criticism, there has been a huge influx in dollar-backed cryptocurrencies.<\/p>\n

In addition, the largest stable coins by market capitalization are Tether, USD Coin, Binance USD, TerraUSD, and Dai. All of these are pegged to the US dollar, while others are valued against gold and silver. Yes, their growth in recent months can not be undermined.<\/p>\n

\n

Source: Coin Metrics’ Formula Builder<\/p>\n<\/div>\n

Stablecoins are used for various purposes in the crypto world. They are used during cash transactions between businesses. And also to avoid the risk of volatility.<\/p>\n

Notably, there has been a significant increase in the quantity of ETH addresses that hold PAXG. The numbers have risen by 15% since February 1, 2022 and are expected to continue to climb. In fact, trading volume is also expected to rise sharply.<\/p>\n

\n

Source: Coin Metrics’ Market Data Feed<\/p>\n<\/div>\n

In addition, the instability and volatility of currencies such as BTC and ETH is an important factor behind the rise of Stablecoins. When the BTC fell 8.34% on December 4, 2021, USD Coin was smooth as a safe haven.<\/p>\n

But does anyone accept it?<\/h3>\n

Not everyone in the crypto sphere is a fan of Stablecoins, however. For example, Gary Gensler, president of the US Securities and Exchange Commission (SEC), said in a news release,<\/p>\n

\n

“These stable coins now act almost like poker chips in the casino.”<\/p>\n<\/blockquote>\n

It is important to note that there are some disadvantages to stable coins. Some investors say that investing in Stablecoin makes little sense because these coins have little upside capacity compared to other investments like BTC.<\/p>\n

Tether, for example, never exceeded the $ 1 threshold after mid-November 2021.<\/p>\n

What about the future?<\/h3>\n

Importantly, for short-term gains, stablecoins do not seem to be the most popular investment. However, their role in the crypto ecosystem cannot be underestimated. Notably, a rare sense of stability must be welcomed in this \u201cwilling\u201d crypto market.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Stablecoins seem to have done very well in an otherwise turbulent year for most mainstream cryptocurrencies. While most cryptocurrencies have retreated from their deficits, Stablecoins have kept their course up. Now the question remains- Should investors continue to look for stable coins for long-term gains? 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