A stablecoin is a digital asset that is linked to a more traditional asset, like fiat money or precious metals. In order to protect consumers from the hazards associated with market volatility, stablecoins are made to maintain a price that is comparatively stable.
Fiat-backed, crypto-backed, and algorithmic stablecoins are the three different varieties. Stablecoins backed by traditional fiat currencies, like BUSD, are anchored to them. By holding fiat reserves that can be converted into stablecoins, they keep the peg in place. Stablecoins with a cryptocurrency backing, like DAI, over-collateralize their tokens to account for the volatility of the cryptocurrency market, and algorithmic stablecoins regulate supply without the need for reserves.
Regulators are starting to examine stablecoins more closely due to their widespread use and high market value. Even some countries are already producing their own to keep control of the currency. In this article, we will be looking at Big Eyes Coin (BIG), a freshly found meme coin, has already grabbed the hearts of crypto aficionados with its unusual branding and objectives to preserve a vital component of the global ecosystem.
DAI – Adapting to the Times
A stablecoin with cryptography backing, Dai (DAI) is overcollateralized. This indicates that you have a coin with a value greater than its own that is backed by other cryptocurrencies. It has been successful for the Dai team to innovate in order to make the project appealing to younger investors. They have worked along with influencers to engage a new generation of investors and promote Dai via numerous platforms and channels. They are also nearing completion of listing DAI on significant centralised cryptocurrency exchanges.
Dai, a token developed on the Maker platform, is pegged to the value of the US dollar even though it is not backed by any currency. To adapt to shifting market conditions, Dai uses margin trading. Dai provides trustless stability, eliminating the need for a third party, to the unstable crypto ecosystem. At the time of writing, Dai (DAI) had a 24-hour trading volume of $101,801,843 USD and was trading at $0.999491 USD.
Tether (USDT) – The Trustworthy Stablecoin
Tether (USDT), a stablecoin, is well-known and in high demand. Because of its dominance since 2014, it has helped many people maximise their savings. If someone wants to save money in a standard account with no restrictions or fees, they are fortunate to earn 0.02% interest. A major benefit is that users can lend their stablecoins and earn interest of between 3% and 20%.
Tether (USDT), which is currently the third-ranked cryptocurrency on CoinMarketCap, gives investors a fantastic opportunity to invest in a coin that is less risky than some of the other cryptocurrencies that are currently available. Many of its users have already benefited greatly from it.
A new stablecoin backed by the Mexican peso, MXNT, was scheduled to launch in May 2022, according to Tether. The company entered the Latin American market with the introduction of its USDT, EURT, and CNHT stablecoins, which are tied to the U.S. dollar, euro, and Chinese yuan, respectively, in the summer of 2022.
Big Eyes Coin (BIG) – Presale Phase 8 Moving Along Swiftly
Because it is based on the Ethereum infrastructure, Big Eyes Coin (BIG) is an ERC-20 token (ETH). In addition, the BIG development team passionately believes in complete decentralisation, particularly on the blockchain. They intend to work with crypto regulators like Coinsniper and Liquidity Finance in order to establish a reputation for transparency. The project might get more recognition among cryptocurrency enthusiasts as a result of this big development.
The Uniswap decentralised trading protocol, a cryptocurrency network recognized for facilitating the exchange of tokens for decentralised finance, is where Big Eyes Coin plans to launch. In order to maintain the unbreakable and independent qualities of Uniswap while accurately identifying it as a publicly owned and self-sustaining infrastructure, the UNI token was developed. On social media, the meme currency is widely used, particularly on Twitter, where it has more than 39,000 followers. The seventh presale stage of BIG has made $13.71 million in less than a year.
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