This could be an important development for stablecoins. Stablecoin trading pairs – say, UST for ether (ETH) – make up a significant majority of crypto trading volume and, beyond that, they have potential payment use cases. As the economy, crypto or otherwise, increases dependence on stablecoins, the reliability of their peg becomes paramount. An important stablecoin project moving to a bitcoin backing could prove a useful development in the journey for fiat-pegged digital cash.
NEAR and SHIB Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market Update
CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI comprises approximately 180 tokens and...