NFT Ecosystem Basics
Every industry has its own terminology, priorities, and approaches. This section provides an overview of some of these for the emerging NFT ecosystem.
Stablecoins are the weapon of choice of traders who want to operate in the cryptocurrency market but want to hedge their bets. Basically, they are digital assets backed by traditional assets, so they are like a link between the old way and the new way of finance. You can have a foot in both camps.
Market capitalization for all stablecoins in May 2022 was over $160 billion (CoinMarketCap). It is a very big prize. Governments have a close eye on them too.
Stablecoins available for purchase
This lists stablecoins by market capitalization with the largest first and then descending in order (CoinMarketCap).
The stablecoin wars are upon us
Westie, writing for CryptoStars on Medium (Jan. 2022), explains that in 2021, the stablecoin market saw a growth of close to 400%, so now a war has broken out between the many stablecoin options to make sure their stablecoin gains market share and adoption over others. There is a good overview of each ‘army’ in this war.