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Cryptopolitan 2019-06-29 14:31:27

New report reveals Gold-backed stablecoins likely to fail

A new report released by Blockdata, an analytical firm in the crypto domain, showcases that currencies backed by Gold have been the most hard hit in the crypto market. The firm’s research revealed that two out of three times a stablecoin initiative launched after the 2017 crypto boom had collapsed, it had used Gold as a backing asset. The firm notes that the massive chunk of stablecoins projects that were initiated over the last two years had hardly gotten off the ground. However, the firm says, backing the coin’s financial power on Gold has only made it more likely to

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