Stablecoins play a growing role of importance in the cryptocurrency industry. Despite new entrants coming to market, Tether remains the leader in this industry. Money On Chain, an up-and-coming stablecoin project, will try its hand at doing something completely different.
Analyzing the Stablecoin Landscape
A few years ago, no one expected the concept of a stablecoin to become this popular in the cryptocurrency industry. Today, currencies such as Tether’s USDT are the main trading pair for Bitcoin and most altcoins across the exchanges. This industry continues to grow and evolve whenever possible, which allows more companies to enter the market by exploring innovative concepts.
Dethroning Tether will be a monumental task, however. USDT Is the largest stablecoin by market cap, currently at just under $4bn. With over $17.75bn in 24-hour trading volume, it is also the most widely-used asset in the cryptocurrency industry. This is despite several thousands of markets trying to gain some form of traction today.
None of the other…