The Role of Stablecoins in Cryptocurrency Markets
The cryptocurrency market has experienced rapid growth and innovation since the inception of Bitcoin in 2009. While Bitcoin and other cryptocurrencies have introduced a new era of decentralized finance, they have also been criticized for their volatility. This volatility has made it difficult for cryptocurrencies to be used as a reliable store of value or medium of exchange. Enter stablecoins —a class of digital assets designed to maintain a stable value, typically pegged to a fiat currency lik…