Paxos Standard Approaches Tether in the Stablecoin Race with the Market Cap Making over $41M-3.17

With the development of digital technologies, investors have more and more opportunities to pump money into various projects. Currently, the crypto market sees the growing interest in stablecoins — cryptocurrencies pegged to a stable asset, such as gold or fiat currencies. While not any exchange is ready to trade this kind of currency, some are enhancing popularity of stablecoins by adding support for them. The prime example is Binance which is actively looking to list more stablecoins in addition to the three it already supports.

Until recently, USDT issued by Tether Limited was stablecoin number one. But now its status is experiencing challenge, as other stablecoins are entering the crypto arena. Over 50 active stablecoin projects have already emerged around the world, and more are expected to debut.

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