World's 6 largest stablecoins: Top cryptocurrencies that maintain a stable price [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
However, not all stablecoins are created equal, and some carry greater risks than others. This article dives into the six largest stablecoins on the market, exploring how they work, their unique features and the potential risks involved. Stablecoins are a special type of cryptocurrency designed to maintain a fixed value over time. Unlike volatile cryptocurrencies like Bitcoin and Ethereum, stablecoins are pegged to a traditional currency, most commonly the U.S. dollar. While most stablecoins are backed by assets, a smaller category known as algorithmic stablecoins relies on technical mechanisms, such as adjusting the supply of coins, to keep the price stable. This approach is riskier because it's more susceptible to market fluctuations and technical failures. However, fiat-backed stablecoins, which are backed by real-world assets, currently dominate the market. Tether's USDT and Circle's USDC, the two largest stablecoins, collectively account for more than $167 billion in mar
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