Shattered supply chains have left

MimJannat89

Not so stable after all Last week, many cryptocurrency traders and owners watched with concern as the market suddenly collapsed completely. If you zoom out, you will see that this does not only concern cryptocurrencies. The war, high inflation, interest rate hikes and all financial markets in limbo. During the recent ' salamic crash' , established tech companies also lost $1 trillion in value in 3 days. In addition to the volatile crypto, there are also all kinds of so-called 'stablecoins', which I wrote about in 2019.

This is a cryptocurrency that always retains its value. For example, the most widely used stablecoin, Tether, always equals $1. A safe haven for cryptocurrency traders, but nowadays also for residents of countries where their own currency is far from stable, such as Venezuela, Turkey photo editor and Nigeria. Most stablecoins always have a 1-1 cover with 'fiat' money, such as dollars and euros. For example, for every.



Tether, USDC, PAX dollar, etcetera, the issuing party has one dollar in a safe account, if you want to exchange it. Stablecoins also continue to develop, and so-called 'algorithmic stablecoins' have been working for years, which automatically adapt to supply and demand on the basis of algorithms. Shockwave among cryptocurrencies One of the most bizarre and extraordinary events in the crypto world happened last week when one of those algorithmic stablecoins Luna lost its 'peg' (1-1 peg) against the dollar.