With a market cap of $2.24 Trillion, the crypto market hosts millions of cryptocurrencies with values varying from less than 1 to as high as hundreds of dollars. Moreover, there is a vast variety based on their characteristics, use cases, stability, and much more.
One such category is stablecoins, where cryptocurrency values are pegged to existing, stable assets like fiat currencies. The recent achievement of a $168 billion market cap for stablecoins indicates increasing trust and reliance on these digital assets for transactions, savings, and other financial operations.