"On top of the plunging stablecoins ratio, Ki Young Ju says that the stablecoin market is flashing buy signals.“For all stablecoins, Number of issuing event is increasing Number of redeeming event is decreasing
And stablecoins circulating supply & exchange holdings hit an all-time high yesterday. Fewer people cashing out, more people buying stablecoins through fiat to purchase crypto. It’s bullish.”
I’ve got a little ALGO. USDC and USDT both run on the Algorand network. They did a challenge recently to see how fast and cheap a $100 transaction could be. Four people on four different continents sent $100 worth of USDC around the world in less than 1 minute and the fees were $0.04. Now that’s fast, cheap peer to peer transacting. Trilema already solved while everyone awaits ETH 2.0
Stable coins seem much less risky to people which is why they’ll continue to be adopted, especially USDC since they’re audited on a regular basis. It also makes more sense to people because $1.00 = $1.00 which is a lot easier to wrap your brain around than $1.00 = 0.00003 Bitcoin or whatever it is. Buying a new car for 0.652 worth of a currency just seems weird.