Topic: Increase in stable coins adoption might just be the key to crpyto dominance. - page 4. (Read 522 times)

The adoption of stable coins are already big, you can check in CMC where the top 6 trading volumes are dominated by 4 stable coins, the rest is BTC and ETH. This means most people use it for trading, but I don't think it's related to crypto dominance since no one want to hold stable coins where it's centralized, not making any profit and there's a risk of the project turn to be scam. Don't forget about UST and LUNA.

The reality is stablecoins are not being adapted the way we all wish they would be. Yes, there may be some stores and organizations supporting it as a means of payment, but in what percentage does that just fall? It is nothing compared to the dependency of people on Visa and Mastercard payments. Heck, even small boutiques post signs that state that they accept those two means of payment because they know people dominantly use it. If stable coins disappear, the majority of the world will not care about it; remove Visa and Mastercard and there will be a big problem that will lead to debates and international discussions.

Stablecoin and now unstable Yes. volatile markets, with exchange rates that can fluctuate wildly during the day, and sometimes hourly meaning stablecoins are still risky cryptos.


Yes. I think like you say.  CDBC is issued and its circulation is controlled by the central bank, and is used as legal tender to replace currency by the government and their assumptions. Because there are advantages offered and many countries are interested in developing CDBC and it has doubled during the pandemic. If I'm not mistaken Currently there are 9 (nine) countries that have fully implemented CDBC, namely Nigeria, Bahamas and 7 countries in the Caribbean Islands. But, I don't think that will make BTC falter as of now. Its good reputation and large user base have strengthened it as a leader till now.

I won't agree that crypto payments are increasing globally. The USA and the SEC policies and regulations are all against crypto (bitcoin in particular) and since they know that people are not getting back from the cryptocurrencies, so they have decided to build stablecoins which are no different than fiat money except they can be digitally transmitted.

The CBDC is one step in this case where every country will have its own stablecoins (which will be fully in control by the governments). Similarly, the big companies are also trying to introduce stable coins for example Paypal  PYUSD. etc
These are all the steps forcing people to leave bitcoin and keep money in centralized control stable coins.

Many countries are actually adopting crypto as a legal means of payment the only reason visa is still more in use is because many firms are not accepting crypto payments yet and I mean your supermarkets and other physical business that uses faits. And for now there isn't much demand for crypto payments for offline vendors. And I think you haven't read the article yet to see what I'm really talking bout

What value stablecoins settle? Go to any supermarket in the world and you'll see people paying with Visa or Mastecard every single minute. But where are the stablecoin payments?  I never encountered a business, even a small one, that accepts stablecoins.

My guess is that most of the activity on stablecoin network is speculative trading, especially by bots. If someone shut down stablecoins tomorrow, the world wouldn't notice. If someone shut down Visa tomorrow, that would be Armageddon.

I stumbled upon a captivating news piece online titled 'Stablecoins Settled as Much Value as Visa in 2022.' It's quite intriguing. Lately, I've been engaged in discussions with my friends about the implications of the growing adoption of stablecoins as a payment option in the current global landscape. To me, it appears to be a positive trend for the world of cryptocurrenciesand us crypto users. More individuals are becoming acquainted with crypto, and it's increasingly becoming a preferred choice for many.

Personally, this development brings me a lot of satisfaction, particularly because my home country's currency faces significant challenges, making stablecoins an attractive alternative for storing value. Countries grappling with high inflation rates have already embraced stablecoins for mass transactions. Moreover, the adoption of stablecoins could potentially reinforce the position of the US dollar as a global currency since usdt is still one of the leading stablecoin.

Interestingly, beyond developed nations, Visa and Mastercard aren't as dominant. It seems that developing countries are embracing cryptocurrencies at a faster pace than Visa and Mastercard can penetrate. Particularly noteworthy is the utilization of stablecoins to combat local inflation. The traditional card systems rely on banks, and banks often struggle to provide services to lower-income individuals, whereas crypto presents a more suitable solution.

The concept of stablecoins being a gold mine for transaction fees is fascinating. This explains why Visa, Mastercard, and even PayPal are diving headfirst into the crypto realm. The trend is clear: stablecoins are on the rise, and it's only a matter of time before they become as common as gift cards.

For those seeking more information on this topic, you can check out the details through this link: [https://cryptopotato.com/stablecoins-settled-as-much-value-as-visa-in-2022-analysis/].
I'm still super excited and thrilled I can't wait to see how this affect the value of BTC and other crypto assets in the world or even better since more companies are diving into  creating more stablecoins and sooner or later another stablecoin might become more dominant that usdt or thether and we might have a non fait related stablecoin.

This is a summary of the article I read created by a bot the real new is in the link above.

Stablecoins have become a dominant force in the payments industry, settling over $11 trillion in value in 2022, according to a report by Brevan Howard. The report highlights that stablecoin adoption remained strong despite capital outflows from the crypto market. The majority of non-speculative activity in stablecoins is driven by fiat-backed tokens such as USDT, USDC, BUSD, and TUSD. Stablecoin volumes only fell 11% since December 2021, while weekly transactions increased by 25%. The total value settled through stablecoins last year approached that of Visa's $11.6 trillion figure. Ethereum accounts for 50% of stablecoin volume but only 3% of total transactions due to high transaction fees. Tron and Binance Smart Chain account for 75% of stablecoin transactions and 41% of volume. Tether's USDT dominates the stablecoin market, accounting for 69% of supply, 80% of weekly active addresses, and 75% of transactions.