Stablecoins down in February, except Tether and DAI

20 Feb, 2019
by Alberto Arnaldo
Analysis
Stablecoins down in February, except Tether and DAI

Over the past few months, there has been a continuous background roar about stablecoins as more and more projects have been launched. However, in the first half of February these non-crypto digital assets have been losing market capitalization.

The net decrease of the outstanding supply of stablecoins without accounting for Tether and DAI has decreased in about $100 million or 10%. In a month were the largest bank in the U.S. launched their own stablecoin, upwards price action might be triggering some funds to step off stablecoins into cryptocurrencies.

As the graph above shows, with data extracted from Ethersan by Diar, USDC is taking the largest hit, also significant when detrending for project size. Thether’s losses are rather negligible, meanwhile DAI is the only stablecoin increasing its outstanding supply during the current month.

Read more: "The JP Morgan coin should obliterate Ripple", says Bloomberg editor

2018 and the beginning of this year have witnessed many new projects getting launched an increasing adoption among those already operating. However, it remains to be seen if the trend will continue, especially if price winds start to blow towards another bull run in cryptocurrencies.

Read more: Binance adds 4 stablecoin pairs, making stable coin cross-trading easier

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Poll

Do we need more stablecoins?

(36 votes)

Add a comment

constant growth of indicators like market cap and consistency of price make tether one of the most reliable stablecoins at the market so far
20 Feb, 2019 - 18:50
agree! tether is the only stablecoin that is growing constantly from period to period and more and more traders trust this stablecoin
20 Feb, 2019 - 19:10
even if the stablecoin market is going down one of the most reliable of them tether is showing growth and consistency.
20 Feb, 2019 - 20:31
what is dai ?) is it really a stablecoin ? very funny ))
20 Feb, 2019 - 20:55
You can see the best proof that Tether is the best stablecoin
20 Feb, 2019 - 21:13
hope usdc will have the lowest price and disappear
20 Feb, 2019 - 22:12
I'm glad that tether didn't fall because i invested in it ))
20 Feb, 2019 - 22:28
just like me. i definitely see a lot of potential in tether, one of the most promising assets among whole crypto market
21 Feb, 2019 - 11:53
usdc payed even for the fake volumes
20 Feb, 2019 - 22:47
it doesn't matter is we still have true coins as tether and dai.
23 Feb, 2019 - 05:19
Tether is trusted now and other stablecoins not. This is a clear example of what happens with hyped coins a few months after advertising — its price drops down.
21 Feb, 2019 - 09:28
of course. tether had no hype that's why the result is better
21 Feb, 2019 - 10:34
ok, i will keep in mind that DAI and Tether are something i need to obtain
21 Feb, 2019 - 12:04
To be expected. GUSD is down
21 Feb, 2019 - 13:44
I have not heard anything about DAI stablecoin. Probably DAI is one of the beginner coins. And Tether also showed a good increase in capitalization. The green price has been selling for several weeks already and it is a good result
24 Feb, 2019 - 08:53
Ha-ha! "Except Tether and DAI". These are two stablecoins that I`m trading. Looks like I`ve got some crypto hunch :)
26 Feb, 2019 - 16:43
what is dai? the next shitcoin i guess because it's absolutely unknown for me
27 Feb, 2019 - 22:06
everyday i see news regarding listing of usdt so i assume it's reliable
03 Mar, 2019 - 21:20
We definitely don't need more stablecoins especially those mediocre ones like Gemini and Paxos.
07 Mar, 2019 - 23:55
tether is actually very different from other stable coins on the market and when everyone are in the red zone then it does not mean that tether will also go down
18 Mar, 2019 - 18:06
really solid stable coins like DAI and tether are not affected by the volatility of the market and that is why they were not going down in the February
21 Mar, 2019 - 12:01

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