Study reveals only 30% of stablecoins are live and operational in actual

29 Jun, 2019 | Updated: 29 Jun, 2019
by Fifi Arisandi
News
Study reveals only 30% of stablecoins are live and operational in actual

Study reveals that 70% of launched stablecoins are unavailable for purchae as they have shut down completely or are still in development.

Stablecoin has been around since there's a demand of it. Previous report said that it has been the main choice for those wanting to invest in crypto minus the nerve-breaking volatility.

A recent study by Blockdata, however, reveals that out of the total stablecoins ever launched, only 30% of them are live and operational in actual.

Meanwhile, the remaining 70% are said to either have shut down completely or be still in development.

According to the researchers, about two third of the failing stablecoins are backed by gold. Several possible factors that cause the failure are volatility, physical storage complications and scams.

The study also recognizes the prevalence of asset-backed stablecoins, with around 95% of all live stablecoins, followed by Ethereum-based stablecoins, Bitshares-based and Stellar-based stablecoins.

A little out of context, Steve Forbes of Forbes media company was reported to suggest Facebook co-founder, Mark Zuckerberg to back the upcoming Libra coin with gold, as reported by Cointelegraph.

“For a variety of reasons gold holds its intrinsic value better than anything else. It’s like a measuring rod. It no more restricts the money supply than the 12 inches in a foot restricts the size of a building you might wish to construct. All it means is that the Libra will have what no other currency has today: a fixed value,” Forbes told Zuckerberg.

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