Price War: A new type of attack on stablecoins6

During the crypto market crash in 2018, the network value of almost all tokens dropped significantly. The exceptions are a few stablecoins that grew a lot in market cap: USDC ($0 to $239M+), TUSD ($0 to $205M+), PAX ( $0 to $113M+), GUSD ($0 to $72M+), DAI ($0 to $92M+). Collectively these stablecoins have about $717M+ in market cap. On the other hand, the market cap of leading stablecoin USDT dropped from $2.8B to $2.0B, losing about $800M in market cap. What a coincidence! It seems the new stablecoins' gain is at the expense of leading stablecoin Tether which was attacked in October 2018. (Note: The market cap data is from CoinMarketCap as of March 11, 2019 and is approximate.)

Source: coinmetrics.io

Original source
https://www.theblockcrypto.com/2019/03/12/price-war-a-new-type-of-attack-on-stablecoins/

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