growth in cryptocurrencies

The use of cryptocurrencies as a safe haven from the volatility that has plagued the crypto market over recent months has been on the rise.

In 2017, combined cryptocurrency trading volumes reached around $60 billion per day. According to data from the Bank of International Settlements, this is a significant amount and a small percentage of total financial markets trading at around $192 trillion a year.

In 2018, cryptocurrency trading volume was around $20 billion per day, suggesting that the total trading volume could grow to around $80 billion a day by the end of 2018. The size of the daily trading volume is a key indicator for market growth, which would suggest a combined market capitalization of cryptocurrencies reaching as high as $5 trillion by the end of 2018.

Growth in Cryptocurrency:

The growth in cryptocurrencies may now be seeking alternative price support away from Bitcoin as regulators seek to expand market oversight, adding to the downward pressure on the flagship cryptocurrency. The use of Stablecoins may therefore present an opportunity for both investors and traders who are looking for an exchange rate-linked mechanism to invest in cryptocurrencies that isn’t subject to price volatility.

Stablecoins are cryptocurrencies with a fixed exchange rate. They benefit from strong demand and growth. They can be used as payment for goods and services with merchants who accept them and provide stability during periods of high price volatility within the cryptocurrency market. A combination of stability and appreciation potential is likely to prove a strong draw for investors seeking to diversify their portfolios.

The use of Stablecoins has been growing as the market matures, and the types of Stablecoin have increased in number, with each performer offering different benefits. This article provides an overview of key Stablecoin providers, including Tether, Digix Gold, MakerDao, and Havven, which have all recently risen the market cap rankings.

Tether (USDT) – Market Capitalisation: $2 billion

Launched by Tether Limited in 2014, USDT is a cryptocurrency token that claims to be backed by one dollar for each token issued on the Omni blockchain, a fork from Bitcoin’s codebase. The value of USDT stays at US$1 regardless of market conditions because it is ‘tethered’ to real-world dollars that are safely deposited in the Tether reserves.

As of September 2018, there were 2.2 billion USDT tokens in circulation with a total market cap of $2 billion. The issuer has generated controversy by not having an official audit process despite claiming to hold dollar reserves for each token issued. This lack of transparency led to speculation among traders that USDT may be subject to price manipulation, and they moved their funds into other Stablecoins such as TrueUSD (see below).

Digix Gold (DGX) – Market Capitalisation: $78 million

The Digix Global platform launched by Digix in 2016 allows token holders to own gold via the blockchain; every DGX token represents 1 gram of LBMA-standard gold stored securely in Digix’s custodial vault. Each transaction is linked to an online card held by the user, showing how much gold they currently own. Tokens can be redeemed or resold at any time, with users having full control of their assets.

MakerDao (MKR) – Market Capitalisation: $322 million

Launched by Maker in 2014 on top of Ethereum’s blockchain, MKR is issued by Maker and derives its value from underlying reserves held by Maker, which include Ethers coupled with a dynamic system that ensures stability. Those who own MKR can vote on the Maker platform’s governance and fund its development.


The use of Stablecoins is on the rise, with many businesses and individuals looking for a more reliable and predictable way to conduct transactions. While there are still some challenges that need to be addressed, it is clear that Stablecoins have the potential to revolutionize the way we do business online.

Author Bio – Jyoti Yadav is a Digital Marketing Manager and loves to write a blog at Athmin Technologies and is a total health fanatic. Her love for health and well-being fuels her creative spirit and allows her to stay mindful and productive. She loves reading books, novels and listening to podcasts! Apart from work, she loves to travel around the world and discover new places.

By Anurag Rathod

Anurag Rathod is an Editor of, who is passionate for app-based startup solutions and on-demand business ideas. He believes in spreading tech trends. He is an avid reader and loves thinking out of the box to promote new technologies.