As is often the case when the market takes a turn for the worst, stablecoins become the popular choice, making them some of the best performers. Today is no exception.
Starting with the biggest stablecoin by market cap, Tether is trading slightly under the $1 mark, currently at $0.98, showing a marginal increase of 0.15%. The coin remains in 8th place with a total market cap of just under $1.7 billion, and a 24-hour trading volume of $5.5 billion.
Further down the list, TrueUSD is also in the green with a slight increase of 0.40% to trade a $1.02. The same can be said for USD Coin, also trading at $1.02 but with 0.71% increase in value in the last 24 hours. The Winklevoss twins’ own Gemini Dollar, one of the smaller stablecoins, is no different. With a current trading price of $1.02 and a marginal increase in the last 24 hours of 0.58%.
The trend continues with Paxos Standard Token, currently valued at $1.01 – an increase of 0.37% in the last 24 hours.
While the rest of the market remains well within the red zone, stablecoins have proven once again to be a valuable asset during times of uncertainty. Although not quite as valuable if you were lucky enough to be hodling any Nasdacoin.