Stablecoin

Quick meaning: Stablecoin is a noun meaning A cryptocurrency with price stability by design, often pegged to a stable asset such as the US dollar.

Meaning

A cryptocurrency with price stability by design, often pegged to a stable asset such as the US dollar.

Example Sentences

Until six months ago, stablecoins were a niche pursuit, used mostly in crypto trading and criminal activity.

Several other companies have recently introduced so-called stablecoins, linked to the value of the dollar. JPMorgan Chase even said it was experimenting with the concept last month.

The first attempt to scale a stablecoin came from Maker. At the time of writing, there are about half a billion dollars worth of cryptocurrency tied up as collateral for this stablecoin—the Dai—whose value is pegged to the US dollar.

But the meltdown gathered momentum this week when TerraUSD, a stablecoin, imploded. Stablecoins, which are meant to be a more reliable means of exchange, are typically pegged to a stable asset such as the U.S. dollar and are intended not to fluctuate in value.

Word Forms

• stablecoins

Antonyms for stablecoin

Common opposites include memecoin, shitcoin.

Related Words

Related dictionary entries include cryptoasset, money, bancor, cryptocommodity, shilling, currency.

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