2019 has been largely regarded as a year of the bulls after collective bullish sentiment drove major cryptocurrencies to a price hike. Besides the bull run, stablecoins were also a major topic of discussion as the community’s attention were grabbed by the Bitfinex-Tether fiasco and the launch of Facebook’s Libra.
Other than the aforementioned virtual assets, established coins like USDC, DAI have started to pick up pace in the markets.
According to a stablecoin review report released by Coinmetrics.io, the likes of USD Coin [USDC], Paxos [PAX] and DAI all registered positive growth over the last three months. It was reported that the aforementioned stablecoins had a substantial increment in the number of addresses holding a minimum of $10.
Tether, which is the largest stablecoin in the ecosystem, and TrueUSD, recorded an average performance and Gemini Dollar [GUSD] suffered a decline.
The report suggested that the $10 cutoff was only taken as a temporary unit of measurement as it was low enough to chart out both retail investors and large enough for a non-active account.