A new bitcoin-linked stablecoin is being launched by Stably, but the company faces an uphill battle in establishing itself in the crowded stablecoin market. The ethereum-based StableUSD (USDS) stablecoin has only 752 holders and a market capitalization of $264,000, according to etherscan. These figures pale in comparison to those of Tether and USDC, the current market leaders. Stably’s new product will have to outperform its underwhelming predecessor if it wants to succeed in the long term. It remains to be seen whether the new stablecoin will be able to challenge the status quo and make a name for itself in this competitive industry. Only time will tell.