Hello and Hive Fam!
I hope that life is treating you well wherever you are in this part of the world.
It is good to learn more about the available stablecoins in the market. The reason I find it interesting is that there are so many stablecoins available. The demand for stablecoins is rising, which is good, but at the same time, we also need to understand which stablecoins are available on different blockchain networks and what market share they have based on their market cap. A lot of people often talk about USDT or USDC, but that is not the word because there are many other points as well in the market, and they have also got some market share, but I agree that it is not so big, so they are not getting attention.
There are two types of stablecoins: one is owned by a company, and the other is not owned by any company, which is also known as decentralised. I know that HBD is also a decentralised stable coin, but the problem with this stable coin is that it is not listed on the exchange, so anyone who is not part of the Hive ecosystem will have no room to access this stable coin, and this is why I believe HBD deserves an exchange listing. Below is the list of top 10 stablecoins based on the market cap, and you can see that the top two slots are held by USD by Tether and USDC by Circle. And these are the company names that I have mentioned here for information.
Today, I only got to know that da I is a stable coin which is decentralised and not owned by any company or entity, which is impressive, and this is why I believe that learning and reading are very important because they help us know more. Most of the top five coins are available on the different chains But after that the chain's availability is reduced if you go with the coin from 6th to 9th excluding the one which is on 7th and it is for the Black Rock USD. even today only I got to know that Black Rock has also got their stable coin and surprisingly it is available on multiple chains So many new things I got to know today only.
The list is so big because there are so many stable coins of label and this is why I believe that when we see the rise on demand for stable coins we are going to see many more coins getting added and also more adoption coming towards the existing coins which is needed because there should not be a situation of monopoly only some of the popular points gain attention and market share.
You can check more about this list and more coins at https://defillama.com/stablecoins, and this is a nice portal where you get a lot of information about many coins. I'm surprised that almost every coin is backed by US dollars only, and other currencies are not supported. And I don't deny the fact that there can be some coins with different currencies, but the majority of coins are supported by the US dollar only, which is a concerning point. There are many other currencies which are equally popular, and these currencies are like the Euro and the pound, etc, but when it's about stablecoins, the US dollar is the leader. Thank you!
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