Stronghold USD price is $1.02
The current price of Stronghold USD (USDS) is $ 1.02.
Stronghold USD (USDS) is a digital stablecoin that is pegged to the U.S. dollar. It is designed to represent real-world currency in digital form and maintain a 1:1 value ratio with the U.S. dollar. This means that one USDS should theoretically always equate to one US dollar.
The primary purpose of stablecoins like Stronghold USD is to provide stability in the highly volatile crypto market. By pegging USDS to a stable external asset (the U.S. dollar), its value remains relatively steady, making it a safe harbor amid market fluctuations.
Stronghold USD was created by the team at Stronghold, a financial institution building an open and global financial system. Utilizing the power of stablecoin technology, they aim to enable seamless transfers of value on the blockchain.
As a stablecoin, the operation of Stronghold USD is different from that of traditional non-pegged cryptocurrencies. Here's how it works:
Stronghold holds a reserve of real-world U.S. dollars in a bank account, which serves as collateral for USDS tokens. This reserve backing is what helps maintain the stable value of USDS.
When you buy Stronghold USD via an exchange or the Stronghold platform itself, you're essentially purchasing a digital representation of a U.S. dollar. You can then use this just like any other cryptocurrency: send it to other users, use it in transactions, trade it on exchanges, or hold it in a digital wallet.
As of date, the circulating supply of Stronghold USD is 0.4M. The total supply is determined by the amount of U.S. dollars held in reserve by Stronghold.
The main feature that distinguishes Stronghold USD from other cryptocurrencies is its stability. Whereas the value of most cryptocurrencies can swing wildly from one moment to the next, Stronghold USD (since it's pegged to the U.S. dollar) maintains a nearly constant value.
This stability makes USDS a dependable store of value, particularly in times of crypto market volatility. In addition, since Stronghold USD resides on the blockchain, it can be transferred quickly and easily anywhere in the world, providing greater efficiency than traditional banking methods.
In the last 24 hours, Stronghold USD (USDS) has increased by +0.00%.
Stronghold USD (USDS) can be purchased on multiple cryptocurrency exchanges that include it in their trading pairs. Some of these exchanges are Bittrex. As always, it's important to use trusted platforms and secure your funds properly when dealing with cryptocurrencies.
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