Coinmarketcap has launched StableCoinsWar, a practical tool that was created to monitor the main stable cryptocurrencies based on the US dollar. It is an online service that is basically a filter for the standard Coinmarketcap top.
In addition to monitoring the value of currencies (even if technically it should remain fixed), StableCoinsWar also displays trading volumes for the last 24 hours. They are also expressed as a percentage of rivals.
It is also possible to monitor the total supply of current currencies, as well as the percentage of the market capitalization of each currency in relation to its competitors.
In addition, StableCoinsWar also reports the speed of money – the time needed to convert dollars.
Currently, the list includes only the major dollar-stable cryptocurrencies – Tether, Gemini, USDC, TrueUSD, DAI and others.
For the time being, stable cryptocurrencies based on other currencies or rare metals are not included.
StableCoinsWar: Who will win the stable cryptocurrency war?
The site name is not accidental. In the last year, many stable cryptocurrencies were launched, while the existing ones and assets from 2017/2018 were literally struggling to establish themselves on the market.
DAI and USDC, for example, began to gain popularity only after being listed on Coinbase.
At this point, the undisputed leader remains Tether, with a market cap of over $ 4.1 billion. This represents 82% of the total capitalization of cryptocurrencies based on the dollar.
In second place is USDC, with a capitalization of almost $ 393 million, followed by Paxos, with a slightly lower value.
Of all the stable cryptocurrencies, Tether is currently the only one compatible with several blockchains – Ethereum, Omni, EOS and TRON.
USDT has announced its intention to launch soon on the Lightning Network.