Stablecoins take over as Cryptocurrency Market faces Sudden Crash. How long is i

[Ozark]

Stablecoins take over as Cryptocurrency Market faces Sudden Crash.
How long is it going to last?

The cryptocurrency market has seen a sudden dip today 10 January 2019. All top ten cryptocurrencies are victims and a look at the top 100 cryptocurrencies shows only two coins Aurora (AOA) and Maximine Coin (MXM) are in the greens.

All stablecoins among the top one hundred digital assets, on the other hand, are all in green flourishing while top cryptocurrencies including Bitcoin are on a free fall. The stablecoins Tether (USDT), USD Coin, TrueUSD, Paxos STandard (PAX), Gemini Dollar (GUSD) and Dai Stablecoin are gaining momentum as at press time, USDT even showing tendencies of taking the 7th spot from Litecoin after reclaiming the 8th position which Tron (TRX) took from it just yesterday.

Stablecoins enable cryptocurrency enthusiasts to pay for goods and services without having to worry about the sudden price fluctuations that characterize cryptocurrencies. As the market became very unstable in 2018, many cryptocurrency users turned to stablecoins as a better alternative to the volatile cryptocurrencies.

The interest in stablecoins has been sustained since then and is now reflecting in the market trends of the top 100 digital assets by Coinmarketcap ranking. Not just individuals but countries are now working on issuing stablecoins because of this growing interest and the quest to remove volatility from digital assets which should be used as means exchange.

For instance just yesterday it was reported that China’s third largest city Kaoshiung is working on issuing a stablecoin known as Kaoshiung Coin to residents of the city to use for buying of goods and services. The fiat stablecoin is scheduled to be launched by 19 January 2019 and work on it is almost complete. This the Taiwanese city is working on in collaboration with the Korean government.

If the volatile trends of cryptocurrencies continue then stablecoins may eventually take over the space as they are obviously currently preferred. According to a report, PAX alone exceeded $5 billion in transactions in the first 3 months of its launch, showing a significant interest in stablecoins generally. The interest in stablecoins has evidently increased and still growing and this may continue until a solution to volatility is found. Are we getting there soon?

SOURCE

[Bilqist]

In bear market stable coin is choosen right way. But when market growth stable coin will be abandoned. Because no profit in here.
This coin choosen for keep asset in digital only or safe in transaction because no volatile, for investment is not good at all

[Fenix]

Of course, it should be so. As soon as the main coins begin to fall in value, their holders withdraw their funds from these coins to stable coins in order not to suffer losses. This is one of the main functions of stable coins.

[kent47400]

I really like Stable Coins because that way we can save money from uncertain cryptocurrency prices.
It is more appropriate for Back Up altcoins to rampage down like snowballs.

[Alcor]

Of course, stable coins become very popular during the fall of the cryptocurrency market, when holders of cryptocurrency are trying to protect themselves from the further depreciation of their coins and tokens. In principle, this is one of their main functions. They are also created for ease of use of cryptocurrency or when you need for some other reason to temporarily withdraw your funds from a specific coin or token, but for some reason we cannot or do not want to invest in another cryptocurrency at the same time.