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When so many people use

MimJannat799
2023-11-18 150

When I started it in 2015, everyone was mainly focused on Bitcoin. There are now countless developments such as NFTs, stablecoins and CBDCs. In this article I look ahead at the 5 most important developments. 1. Not so stable after all Last week, many cryptocurrency traders and owners watched with concern as the market suddenly collapsed completely. If you zoom out, you will see that this does not only concern cryptocurrencies.

 

The war, high inflation, interest rate hikes and shattered supply chains have left all financial markets in limbo. During the recent ' salamic crash' , established tech companies also photo editor lost $1 trillion in value in 3 days. In addition to the volatile crypto, there are also all kinds of so-called 'stablecoins', which I wrote about in 2019 . This is a cryptocurrency that always retains its value. For example, the most widely used stablecoin.

 

Tether, always equals $1. A safe haven for cryptocurrency traders, but nowadays also for residents of countries where their own currency is far from stable, such as Venezuela, Turkey and Nigeria. Most stablecoins always have a 1-1 cover with 'fiat' money, such as dollars and euros. For example, for every Tether, USDC, PAX dollar, etcetera, the issuing party has one dollar in a safe account, if you want to exchange it.

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