Crypto traders must look beyond the big market players occasionally. Particularly when the numbers are down. Traders must consider tokens outside the top positions as well. Making investments should be on merit and not prominence. Traders need a fresh perspective.
The cryptocurrency market has reportedly exploded with stablecoins backed as tangible assets. One thing that makes stablecoins different from most crypto is the fact that volatility has very little impact on them. This is because their price action doesn’t depend on buying or selling. It depends on the availability and price of the asset. The below stablecoins will be great for investment for the week.
One digital asset that is showing promise for investment this week is Tether. Tether is reported to be going at $1.01. The coin’s market capitalization has also reached $3,961,488,109. Even though the digital asset isn’t backed by the USD it still offers fair value for investors or traders.
This USD-backed stablecoin offers traders and investors fair value for their money. Now selling for $1.00 with a total market capitalization of $220,729,969, TrueUSD is another digital token to watch out for this week. The USD-backed coin has previously served as a Tether failsafe. However, this failsafe may actually need some backing when it comes to finding market stability.
The total market capitalization of White Standard stands at $443,185 at press time. While the price of White Standard stood at $1.01 as of when this content was published. This is a well-backed digital coin. The coin is reportedly backed by the Euro, Pound sterling, and the US dollar. In recent weeks the digital asset market has reportedly been treating White Standard nicely with the coin’s price not fluctuating over 5% to 10%.
This stablecoin has shown great promise to enter this list. BitUSD price is now trading at $3.96. The digital asset has a total market capitalization of $14,979,640. It is also backed by the USD. BitUSD is reportedly one of many stablecoins delivered by BitShare. It has never gone above the 10% mark when volatility strikes and is truly reliable. Exchanges working with BitShare trade in bitUSD and only two of such platforms exist.
This gold-backed stablecoin is showing great promise and offering an option for investors who are savvy. The price of Digix Gold currently goes for $44.89 in the market. Digix Gold also has a total market capitalization of $4,638,870. Buying this stablecoin will practically be like buying gold. This is because each DGX unit is equal to a single gold unit. Transparency is one reason why investors should loo here. Another reason is that the coin is on the ETH Blockchain. All in all Digix Gold is also an ERC20 token making it a good stablecoin.
Paxos is another option for investors. The digital asset is reportedly running on the Ethereum Blockchain. Designed to be free of fluctuation or volatility Paxos is an ERC20 token. This digital asset is also backed by the USD. As of press time, it had a total market capitalization of $165,399,613. Now trading at a perfect score of $1.00), Paxos will offer investors value for their money.