BitUSD Trades Below Dollar Peg after Global Settlement Event
Cryptovest
Published Dec 17, 2018 05:17AM ET
Updated Dec 17, 2018 06:21AM ET
BitUSD Trades Below Dollar Peg after Global Settlement Event
BitUSD, the dollar-pegged asset with an algorithmic approach to settling, entered a “global settlement” event a few days ago and is yet to return to the $1 level. BitUSD is ensuring liquidity on the BitShares Asset Exchange, as well as on the Open Ledger DEX.
This project is unique in that the dollar-pegged coins are created through borrowing, the collateral being BitShares, a special asset based on a delegated proof-of-stake network similar to EOS. BitShares is a relatively old project created by Dan Larimer before he moved on to Steemit and EOS.
BitCNY, the asset pegged to the Chinese yuan, has not seen a similar price change. BitUSD, however, can no longer be created with BitShares used as collateral.
BitUSD has almost no ef...
This article appeared first on Cryptovest
Get The News You Want
Written By: Cryptovest
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.