If necessary research is made in the cryptocurrency market to ascertain the number of stablecoin we have in the cryptocurrency market,I think we won't nothing less than 200 stablecoin in the market right now. One of the latest stablecoin thatid to be launched soon is SHI stablecoin to Shiba Inu cryptocurrency coin as reported by Shytoshi Kusama, who's one of the core developers of Shiba Inu. Because the positive effect stablecoin has on all these cryptocurrency asset can't be underestimated.

What's stablecoin?

It's not a hidden fact that,most of these cryptocurrency coins are looking Evey means to create stablecoin for their coin which could help or tackle the issue of volatility. Developers of most of these coins are finding means to stabilize their cryptocurrency coin. Less I forget, stablecoin is considered to be the cryptocurrencies that's pinned towards an external asset. For example, just like how Hive Backed Dollar (HBD) is pegged or pinned to Hivecoin.

Benefit of HBD as stablecoin to Hivecoin.

HBD helps to minimize the hivecoin rate volatility. That's why you will notice that if the rate of hivecoin is at 0.627,the conversion rate of 1 HBD will be equal to like 1.594 HIVE. If for instance, the rate of hivecoin is at 0.314,the conversion rate of from 1 HBD to Hivecoin will at like 3.188 HIVE. The same thing with if the rate of hivecoin is high in the market the conversation rate from HBD to HIVE token will be lower. That's the benefits of HBD as stablecoin to HIVE. To maintain the minimum standard of stability. So HIVE BACKED DOLLAR stands as a stability to HIVECOIN in the cryptoeconomy. So as the name implies,Hive Backed Dollar as a stablecoin is a backed dollar for cryptocurrency Hivecoin.

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