Tale Of Two Stablecoins: How Tether And Dai Track The U.S. Dollar

Bears have taken an iron grip on the cryptocurrency market, sending the bitcoin price plunging below $5,000 to its lowest price of the year so far. Despite the weakness in the crypto market, many early adopters remain convinced that blockchain technology is the future of payments. One of the results of this dogmatic view has been the development of so-called “stablecoins,” which are cryptocurrencies whose value has been pegged to another asset, such as the U.S. dollar.

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However, not everyone is convinced that stablecoins will provide enough stability...