Rise Of #Stablecoins, Thanks to #DeFi.

Stablecoins are the tokens which provide stability while the market goes up OR down, these stablecoins are generally a form of digital currency, like USDT in against of US #Dollars, 1 USDT generally equals to 1 Dollar although it also depends on the Demand and Supply as well, Will get deep dive into later.
As we see from past till now the Market Cap of stablecoins such as Tether(@USDT), @USDC#TUSDD#DAII & #Paxos is been increased dramatically and gone unnoticed, USDT alone rose its market share by 47% in 2020 till 14B dollar while another stablecoins marketcap has more than double in a single year alone.

Carter, Partner at Castle Island Ventures and co-founder of crypto market analysis firm Coin Metrics, said.
Stablecoins have become popular as #DeFi users rushed to deposit funds and earn #yield on many of the new DeFi protocols that have appeared lately.
“Everyone got so excited about DeFi [that] no one pointed out that stablecoins have been adding $100m/day since mid-July,” he added, noting that DeFi is also part of the story: “defi yields/interest rates are clearly a vacuum sucking in a lot of stablecoins.”

#Bitcoin #Decentralizedfinance #Uiswap #Cryptocurrency #Polkadot