We are trying to make the Binance SQUARE Platform more valuable and attentive for you. Here are the details of our news;
A study by Deutsche Bank Research analysts concluded that many stablecoin projects will fail and only 14% will continue. "Some may survive, but most will likely fail," the researchers said, expressing concern about the industry.
Stablecoins are digital currencies that are pegged to another asset, such as fiat or gold. Due to the stability of these assets, many investors prefer them as a "safe haven" in the highly volatile crypto market.
Analysts examined approximately 334 stablecoins launched since 1800. They claimed that among the assets, only a few are currently available. They added that successful projects have three characteristics that unsuccessful projects lack: reliability, reserve support and tightly controlled systems.
According to research, 49% of stablecoins failed by only existing for 8 to 10 years. Analysts argued that “macroeconomic factors play a key role in determining the sustainability of a stablecoin.” “Issues related to governance and speculative forces may also indicate when an exit from the peg is likely,” said Marion Laboure, senior strategist at Deutsche Bank Research. Laboure also added:
"We chose to compare stablecoins to fiat currencies because their similarity historically makes them similar as both are stable currencies. Both require large reserves and reliability from issuers. Many are subject to speculative forces and both stablecoins and fiat currencies are similar in nature. The majority of currency pegs follow the USD.”
However, Tether, the issuer of stablecoin giant USDT, has spoken out against the Deutsche Bank Research report, claiming that analysts failed to produce "hard data" supporting their arguments. While researchers cited Terraform Labs' TerraUSD as an example of the decline of stablecoins, Tether commented, "Comparison with Terra, an algorithmic stablecoin, is misleading and irrelevant to the discussion about reserve-backed coins."
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So who will benefit?
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I EXPLAIN IN DETAIL.
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Enter the Futures Section from your application,
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WHEN WILL THE AWARD COME?
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