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#TOKEN OF LOVE 重磅回归 stablecoin: the pillar of the digital money ecosystem
Stablecoins play a key role in the cryptocurrency industry. As of July 25, 2024, the market capitalization of stablecoins is approximately $165 billion, accounting for nearly 7% of the total cryptocurrency market of $2.417 trillion. Among them, USDT is currently the third largest cryptocurrency by market capitalization, following Bitcoin and Ethereum.
This article will delve into the definition, classification, and importance of stablecoins in the field of Digital Money. We will also explore the operational mechanism and potential risks through a case study of USDe.
The definition and importance of stablecoins
Stablecoins are "cryptocurrencies designed to maintain a stable value relative to a specific asset or a group of assets." Typically, stablecoins are pegged to fiat currencies such as the US dollar.