Stable cryptocurrencies grow remarkably in 2020. The biggest share in stable crypto money supply, which has increased 80 percent since February, is in Tether.
Bitcoin hovered relatively close to $ 10,000, while total stable crypto money supply surpassed $ 10 billion for the first time.
The total supply of all stable cryptocurrencies, as of the minute the news went live, is around $ 10.6 billion.
Tether continues to lead the field with over 85 percent market share and $ 8.9 billion supply. It is followed by USDC with a 7.2 percent market share.
2020 was a crazy year for stable cryptocurrencies. Since the beginning of February, the market has grown 80 percent. On the other hand, Tether’s market share increased from 82 percent in early February to 85 percent.
Stable cryptocurrencies are used to fix the value and not be affected by the excessive price volatility in the cryptocurrency markets.
A study by Binance, published in recent months and covering 69 customers with portfolio sizes ranging from $ 100,000 to $ 25 million, revealed that 96 percent of investors use stable cryptocurrencies. Over 40 percent of customers prefer USDT, while 19 percent USDC, 13 percent PAX, 13 percent TUSD, 6 percent DAI, 3 percent BUSD, 2 percent GUSD, and 2 percent also uses USDS.
There are also stable cryptocurrencies supported by different currencies other than the US Dollar. For example, BiLira (BTRY), which was recently released and supported by the Turkish Lira at a ratio of 1: 1, is one of them.