How to win the race? Determining the success factors for stablecoins

Stablecoins address the problem of high volatility of non-stable cryptocurrencies. They all share a similar goal - to provide a non-volatile medium of exchange in the digital asset market. However, they differ in their characteristics and popularity. Therefore, the aim of this article is to determine what factors are associated with more popular stablecoins based on the cross-sectional data. The study uses a unique dataset compiled from multiple Internet sources. The results indicate that the USD peg, the number of crypto exchanges listing a particular stablecoin, the number of trading pairs in which this stablecoin is included, and the link to a crypto exchange are more relevant than the type of stablecoin, the availability of its whitepaper and its age.