USDC

THORChain

Read

Coin

<div class="cryptonews"> 
 <p class="is-style-lead">S&amp;P Global reports that Tether (USDT) is currently the top stablecoin in the market due to its <a rel="noopener noreferrer nofollow" title="stability" href="https://thebittimes.com/tag/stability.html">stability</a>. On the other hand, other stablecoins, such as MakerDAO’s DAI, are at a higher risk of depegging. As a result, some <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> are turning to altcoins, and one that is gaining attention is Kangamoon (KANG), particularly for its approach in the meme-coin sector.</p> 
 <h2 class="wp-block-heading" id="summary">Summary</h2> 
 <ul> 
  <li>USDT is the most stable of all stablecoins</li> 
  <li>DAI is prone to depegging</li> 
  <li>Kangamoon drawing investor attention</li> 
 </ul> 
 <h2 class="wp-block-heading" id="tether-outlook">Tether outlook</h2> 
 <p>USDT is the most liquid stablecoin by market cap.&nbsp;</p> 
 <p>An analysis by Dr. Cristina Polizu, Anoop Garg, and Miguel de la Mata reveals that USDT only depegged once to $0.95.&nbsp;</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> FTT price jumps 8% as Binance announces FTT/USDT trading pair 
 </div> 
 <p>Nonetheless, the stablecoin has consistently stayed within the $0.99 to $1 range, indicating high stability.&nbsp;</p> 
 <p>USDT has a market cap of over $83 billion with average daily trading volume of over $8.4 billion.</p> 
 <h2 class="wp-block-heading" id="looking-at-dai-s-stability">Looking at DAI’s stability</h2> 
 <p>The report highlights that DAI is prone to depegging.&nbsp;</p> 
 <p>MakerDAO, the issuer, had over 3.1 billion USD Coin (USDC) in reserves backing DAI when it depegged in March.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Crypto whales accumulate MakerDAO (MKR) token 
 </div> 
 <p>However, DAI’s <a rel="noopener noreferrer nofollow" title="stability" href="https://thebittimes.com/tag/stability.html">stability</a> has improved recently and consistently traded between $0.99 and $1 in the past week.&nbsp;</p> 
 <p>DAI has a market cap of $3.8 billion with a 24-hour trading volume of $85.5 million.</p> 
 <h2 class="wp-block-heading" id="kangamoon-combines-meme-coins-with-p2e">Kangamoon combines meme coins with P2E</h2> 
 <figure class="wp-block-image"> 
  <img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh4.googleusercontent.com/IXjmFyR9Jvhh65GdWvqwboWZbJdgAg__8vHnyYPWw3yg2lRxWqG5BQoilXbHqOx3meAD3oOZwZaFDryn6VKBJFm7iUBOs82StsLHywMC1HyxZnyhO4sVIaUClGDvF3grf29gMnnoxz4RRETVBKb6IDI" alt="Study examines USDT and DAI stability, Kangamoon draws investors in presale - 1"> 
 </figure> 
 <p>Kangamoon aims to reward meme fans and gamers with play-to-earn (P2E) <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a>.&nbsp;</p> 
 <p>The game involves controlling Kangamoon, a boxing kangaroo character, and upgrading it with special abilities.&nbsp;</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> THORChain is bullish, Hedera’s volume soars, Kangamoon forays into blockchain gaming 
 </div> 
 <p>Players can challenge others in fights and tournaments, complete quests, participate in events, and earn various items. These items can be traded in the game’s official marketplace.</p> 
 <p>Kangamoon aims to tap into the $176 billion games market by blending gaming and blockchain, with its smart contract audited by SOLIDProof and Cyberscope.&nbsp;</p> 
 <p>The native KANG token is available for $0.005 in the ongoing <a rel="noopener noreferrer nofollow" title="presale" href="https://thebittimes.com/tag/presale.html">presale</a>.</p> 
 <p>Details about the Kangamoon (KANG) presale:</p> 
 <p>Website:&nbsp;https://Kangamoon.com/</p> 
 <p>Telegram:&nbsp;https://t.me/Kangamoonofficial</p> 
 <p>Twitter:&nbsp;https://twitter.com/Kangamoon_P2E&nbsp;</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Analysts bullish on Cardano, TRON, and Kangamoon 
 </div> 
 <div class="cn-block-disclaimer"> 
  <div class="cn-block-disclaimer__icon"> 
   <svg class="icon icon-info" aria-hidden="true"> <use xlink:href="#"></use> 
   </svg> 
  </div> 
  <p class="cn-block-disclaimer__content"> Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company. </p> 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/study-examines-usdt-and-dai-stability-kangamoon-draws-investors-in-presale-tbt63634.html">https://thebittimes.com/study-examines-usdt-and-dai-stability-kangamoon-draws-investors-in-presale-tbt63634.html</a></p>

Study examines USDT and DAI stability, Kangamoon draws investors in presale

Table of Contents

TheBitTimes

Other articles published on Sep 22, 2023

Why Did XLM See a Whopping 21.27% Surge Amid Market Uncertainties?

Future Price Predictions for Dogecoin in 5 and 10 Years

MakerDAO Surges: Will it Reach the $1,700 Milestone?

Venezuelan Police Raid Uncovers Bitcoin Mining Machines, Rocket Launchers In Prison

Metaverse trademarks plummet in 2023; End of virtual revolution?

Cryptocurrency Regulation in the UK: The FCA Issues Final Warning to Non-Compliant Firms

Join our free newsletter for daily crypto updates!