In a recent post(The Evolution of HBD: Towards Stability), we delved into the stability of HBD over time, noting a solid improvement since early 2022. This time, we broaden the scope by comparing HBD's stability against other notable stablecoins – USDT, USDC, and BUSD – and analyze their statistical data for the years 2022 and 2023.
HBD Price
| Year | 2022 | 2023 |
|---|---|---|
| Mean | 0.984475 | 0.993916 |
| Std | 0.023247 | 0.018735 |
| Min | 0.904245 | 0.897044 |
| 50% | 0.986007 | 0.991045 |
| Max | 1.173890 | 1.122880 |
2022
In 2022, HBD exhibited a mean price of 0.984475, with a standard deviation of 0.023247. Notably, it maintained a robust performance. The price ranged between a minimum value of 0.904245 and a maximum of 1.173890. Comparatively, USDC demonstrated the lowest standard deviation (0.001791), while USDT and BUSD had slightly higher volatility. HBD's 50th percentile (median) value of 0.986007 showcased its stability around the $1 peg.
| Price | USDT | USDC | BUSD | HBD |
|---|---|---|---|---|
| Mean | 1.000594 | 1.000588 | 1.000757 | 0.984475 |
| Std | 0.001236 | 0.001791 | 0.001878 | 0.023247 |
| Min | 0.993587 | 0.987916 | 0.995359 | 0.904245 |
| 25% | 0.999969 | 0.999730 | 0.999739 | 0.974520 |
| 50% | 1.000508 | 1.000493 | 1.000629 | 0.986007 |
| 75% | 1.001103 | 1.001350 | 1.001552 | 0.996297 |
| Max | 1.007038 | 1.010925 | 1.014079 | 1.173890 |
2023
Moving into 2023, the stability trend continued for HBD, with a mean price of 0.993916 and a reduced standard deviation of 0.018735. The price ranged between a minimum of 0.897044 and a maximum of 1.122880. HBD maintained a competitive position with a median value of 0.991045.
| Price | USDT | USDC | BUSD | HBD |
|---|---|---|---|---|
| Mean | 1.000458 | 1.000128 | 1.000348 | 0.993916 |
| Std | 0.001332 | 0.002137 | 0.001505 | 0.018735 |
| Min | 0.996174 | 0.965578 | 0.992275 | 0.897044 |
| 25% | 0.999850 | 0.999752 | 0.999771 | 0.983390 |
| 50% | 1.000236 | 1.000116 | 1.000191 | 0.991045 |
| 75% | 1.000724 | 1.000594 | 1.000805 | 1.002349 |
| Max | 1.009594 | 1.006530 | 1.009168 | 1.122880 |
Contrasting the Years
Comparing 2022 and 2023, both HBD and other stablecoins generally exhibited a decrease in standard deviation, reflecting increased stability. The mean price for HBD slightly increased, indicating a more consistent valuation over time. However, the overall comparison suggests that HBD has maintained its relative stability, even as it faces fluctuations common in the cryptocurrency market.
HBD vs. Other Stablecoins
Despite marked improvements, HBD remains an order of magnitude away from the stability achieved by more prominent stablecoins like USDC and USDT. The limited liquidity of HBD may contribute to this difference. While the statistical data shows progress, it is essential to note that HBD's stability is not yet on par with its more established counterparts.
The primary achievement lies in maintaining a fairly robust peg around the $1 mark.
Market price data: coingecko
Period analyzed: 01.01.2023 – 31.12.2023