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Bitfinex popular exchange and the associated exchange Ethfinex have announced the list of several additional stablecoin today. The platforms will add another four stablecoins to the mix.
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Announced today on Medium, Bitfinex and Ethfinex will add Currency USD (USDC), Paxos (PAX), True USD (TUSD) and Gemini USD (GUSD).
The announcement however notes that "[a]The stablecoins on Bitfinex and Ethfinex will be traded against USD ".
Bitfinex and Ethfinex are dedicated to "providing a high quality and impartial meeting place for every ecosystem and customer".
An uncertain past
Bitfinex has been a significant point of discussion in the past years with the involvement of Tether (USDT).
Tether saw his right dose of doubts about their creditworthiness. In June, Finance Magnates reported on Tether that it was finally conducting an audit to demonstrate sufficient reserves for the support of the USD.
However, the US Department of Justice (DOJ) recently revealed its investigation into the possible involvement of Tether in the manipulation of the market.
Bitfinex supposedly has close ties to Tether. Twitter account Bitfinex & # 39; d It is popular due to its negative position against Tether and Bitfinex. However, it is difficult to distinguish the facts from the rumors with the whole situation.
In what was a strange turn of events, Bitcoin also significantly increased the price in October on Bitfinex, while Tether prices were eliminated.
Stablecoin Mania
The fall of 2018 was filled with a massive amount of stablecoin stocks. PAX, USDC, GUSD and all others continue to make developments.
In October, Crypto Insider reported on Circle and Coinbase announcing their partnership with USDC. This was a noteworthy news because Coinbase and Circle continue to show their high levels of regulatory cooperation.
With so many stablecoins throwing their hats in the ring, it can be easy to lose track of them all.
Stablecoin on the market include Tether (USDT), Paxos Standard Tokens (PAX), Gemini Dollar (GUSD), True USD (TUSD), USD Coin (USDC), nUSD (NUSD), Dai (DAI), bitUSD (BITUSD), NuBits (USNBT) and White Standard (WSD), which appear on coinmarketcap.com.
This list does not even include stablecoins that aim to peg on currencies other than USD, such as bitEUR (BITEUR).
Staying stable in all market movements has also proved difficult in some cases, even for the most popular stablecoin in more recent times.
GUSD saw high prices up to $ 1.19 for GUSD at some point in October, showing that the currency is sometimes less stable. PAX also swung in price around the same time frame, with prices up to around $ 1.07, according to coinmarketcap.com. Although for the most part, prices seem to have a closer 1: 1 berth ever since.
Image courtesy: Coinmarketcap.com
Regardless of the rumors about Tether, however, USDT has a fair experience of holding its 1: 1 peg for years, for the most part – or at least it seems so on the coinmarketcap.com charts. Time will tell how well other stablecoins resist the test of time.
Image courtesy: Coinmarketcap.com
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