Cryptocurrencies are not all volatile. Yes, many people are entering in this market in order to make money fast by gambling on various tokens. However, when people have managed to double or triple their investment, or if they want to stop their losses, they use to move their capital into stablecoins. Most of the stablecoins are indexed to the USD. Of course, there are other stablecoins existing but there isn't a "real" or legal euro stablecoin, or at least, at the moment.
Where is it listed ?
This new stablecoin will be listed first on Bitstamp. In my mind, it is pretty ironical that an English company is the first one to list EURt it while the country just left the European Union.
Since January, the stablecoins are 300% times more used than in the past. Indeed, people have saved their profits by switching from volatile crypto to, most of the time, USD. This news will, I think, make even more people wanting to invest in crypto, especially European citizens. But let's examine what consequences it could make in the next part.
What does it mean ?
When Tether is saying that they created the "first ever" stablecoin indexed on the euro, it is not 100% real. Indeed, the EURS and the sEUR are the main ones existing but they're only worth 200 billion € united. With Tether launching its own euro stablecoin, we can easily imagine that it will be way more popular among users.
Also, I'm rather excited to see when does the lending platform will be able to integrate EURt in their as a product and if the rates will be as high as the USD stablecoins.
And you, what are your thoughts about this announcement ? Tell me in the comment sections.
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