A "stablecoin" is a cryptocurrency that is pegged to, or interchangeable with the value of an asset like gold or fiat currency. For example, Tether, Basis, Gemini Dollar, Paxos Standard and Petro are all stablecoins.
The concept of stablecoin was tarnished somewhat in October 2018 when suspicions about Tether's integrity led to a fall in price. Tether's price decline to $.87 from its $1 "peg" on October 16, 2018 was approximately contemporaneous with a sharp increase in the value of the Gemini Dollar to $1.19 from its $1 "peg."
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