StableUSD (CURRENCY:USDS) traded flat against the U.S. dollar during the one day period ending at 8:00 AM E.T. on January 15th. StableUSD has a market cap of $522,166.10 and $93.00 worth of StableUSD was traded on exchanges in the last 24 hours. One StableUSD coin can now be bought for $1.00 or 0.00007038 BTC on cryptocurrency exchanges. In the last seven days, StableUSD has traded flat against the U.S. dollar.
Here’s how related cryptocurrencies have performed in the last 24 hours:
- Polygon (MATIC) traded 4.2% higher against the dollar and now trades at $2.32 or 0.00005428 BTC.
- Binance USD (BUSD) traded 0.1% higher against the dollar and now trades at $1.00 or 0.00002340 BTC.
- Polygon (MATIC) traded flat against the dollar and now trades at $2.00 or 0.00003275 BTC.
- Chainlink (LINK) traded 4.1% higher against the dollar and now trades at $25.49 or 0.00059579 BTC.
- Crypto.com Coin (CRO) traded up 2.1% against the dollar and now trades at $0.46 or 0.00001077 BTC.
- Dai (DAI) traded 0.1% lower against the dollar and now trades at $1.00 or 0.00002335 BTC.
- Parkgene (GENE) traded flat against the dollar and now trades at $25.59 or 0.00045023 BTC.
- Fantom (FTM) traded 1.4% lower against the dollar and now trades at $2.86 or 0.00006694 BTC.
- DREP (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003399 BTC.
According to CryptoCompare, “StableUSD (USDS) is a fiat-collateralized stablecoin created by Stably. Each StableUSD token is legally backed and redeemable for a US Dollar held in escrow accounts managed by Stably's regulated trustees, such as Prime Trust. To provide a complete and up-to-date level of transparency, Stably provides a view of its reserve balance in real-time via a live feed from the API of its reserve holders. Independent third-party Cohen & Co. also provides regular attestations on the StableUSD reserve balance. By making StableUSD redeemable and pegged 1-to-1 with US dollars, it virtually eliminates volatility while still retaining many useful characteristics of a cryptocurrency – including fast transaction speed, anonymity, and immutability. “
Buying and Selling StableUSD
It is usually not currently possible to purchase alternative cryptocurrencies such as StableUSD directly using US dollars. Investors seeking to trade StableUSD should first purchase Ethereum or Bitcoin using an exchange that deals in US dollars such as GDAX, Gemini or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase StableUSD using one of the aforementioned exchanges.
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