What is the role of stablecoins in the cryptocurrency market?
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Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some "stable" asset or basket of assets. A stablecoin can be pegged to a currency, or to exchange traded commodities (such as precious metals or industrial metals).
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that attempt to peg their market value to some external reference
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Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference. ... Stablecoins achieve their price stability via collateralization (backing) or through algorithmic mechanisms of buying and selling the reference asset or its derivatives.
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