StableUSD (CURRENCY:USDS) traded up 1.5% against the dollar during the 24 hour period ending at 16:00 PM Eastern on May 4th. During the last week, StableUSD has traded down 1.2% against the dollar. One StableUSD coin can now be bought for approximately $1.00 or 0.00007038 BTC on major cryptocurrency exchanges. StableUSD has a market capitalization of $522,166.10 and $93.00 worth of StableUSD was traded on exchanges in the last 24 hours.
Here’s how similar cryptocurrencies have performed during the last 24 hours:
- Chainlink (LINK) traded 9.7% higher against the dollar and now trades at $46.22 or 0.00085238 BTC.
- THETA (THETA) traded 11.1% lower against the dollar and now trades at $10.50 or 0.00019370 BTC.
- Binance USD (BUSD) traded 0% higher against the dollar and now trades at $1.00 or 0.00001844 BTC.
- DREP (DREP) traded down 21% against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded 19.5% lower against the dollar and now trades at $1.96 or 0.00003399 BTC.
- PancakeSwap (CAKE) traded down 9.2% against the dollar and now trades at $38.16 or 0.00070371 BTC.
- Aave (AAVE) traded 7.5% lower against the dollar and now trades at $472.05 or 0.00870450 BTC.
- Maker (MKR) traded down 5.1% against the dollar and now trades at $5,443.94 or 0.10038593 BTC.
- FTX Token (FTT) traded down 3.2% against the dollar and now trades at $55.38 or 0.00102130 BTC.
- Huobi Token (HT) traded 10.8% lower against the dollar and now trades at $24.11 or 0.00044459 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 possible to buy alternative cryptocurrencies such as StableUSD directly using U.S. dollars. Investors seeking to trade StableUSD should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy StableUSD using one of the aforementioned exchanges.
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