Thanks to the MakerDAO team for their feedback on this post, and for their openness to constructive criticism!

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MakerDAO’s Dai has received the lion’s share of stablecoin coverage in recent months, with only Basis as a close runner-up. …

Public Blockchains

  • Bitcoin price was down 11%.
  • Search interest on Bitcoin, Ethereum, Blockchain, Cryptocurrency and ICO varied on small time scales but kept relatively stable averages.
  • EOS had the greatest price change of +44%.
  • ETH had a 653% increase in the average fee ($0.41), while Bitcoin’s average fee dropped 15% ($1.33).
  • BTC hashrate grew 26%. This was relatively slower than the 47% growth in Q1.
  • Bitcoin miner revenue dropped 22%, while ETH miner revenue increased 22%. …

NuBits, a stablecoin first introduced in 2014, provides an illuminating case study for how stablecoins work in practice. It has been functional for over 3 years, ever since the beginning of the stablecoin concept, and is currently the only live example of a stablecoin in the Seigniorage Shares category. Well, mostly functional. NuBits has suffered two big crashes, with extended peg breaking. Fortunately for us, there are valuable takeaways to be garnered from those crashes.

In this post we’ll see how NuBits’ first crash shows how Bitcoin volatility (and more generally, crypto volatility) affects stablecoin demand. …

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