#特朗普比特币金库 Unveiling the Stablecoin Industry Chain, is this "stability" still stable?

Unveiling the Stablecoin Industry Chain, is this "stability" still stable?

Dear ones, recently in the financial circles, stablecoins have been a hot topic, claiming low volatility and stable returns, but is it really that appealing? Today, let's take a deep dive into the stablecoin industry chain!

💎 What is a Stablecoin?

In simple terms, a stablecoin is a type of cryptocurrency, with the biggest feature being that it is pegged to fiat currency (like the US dollar) at a fixed ratio, usually 1:1, aiming for value stability, unlike Bitcoin which has price fluctuations. For example, you can buy 1 stablecoin for 1 dollar, and when you want to use it, you can exchange it back for 1 dollar, theoretically maintaining its value.

📈 Upstream of the Industry Chain: The "Secrets" of Issuers

The upstream of the stablecoin industry chain is the issuers. Take the famous USDT, issued by Tether, which claims that for every USDT issued, there is 1 dollar in the bank as a reserve. However, it has always been questioned for insufficient reserves and poor transparency. Just think about it, if the issuer's reserve assets are inflated, what guarantees the value of the stablecoin? Once trust collapses, the price can plummet in an instant.