W3A PRO | How Stable Are Stablecoins? Decoding Crypto's Safe Haven
W3A PRO | How Stable Are Stablecoins? Decoding Crypto's Safe Haven
Exploring the Impact, Safety, and Adoption of Blockchain's Killer App
GM DOers!
Stablecoins are the killer app of blockchain technology so far. 🚀
More than 120 Million Unique wallets have interacted with a stablecoin since their inception. 🤯
As you can see, the growth in this sector has been exponential, and most of it has occurred in just the last 3 years.
In 2019, the stablecoin total supply surpassed $1 Billion. Today, just 4 years later, we’re hovering just over $130 Billion. 💥
That is roughly 10% of the value of the entire crypto market.
But are stablecoins safe? 🤔
After all, $UST (Terra Luna’s stablecoin) went to 0, $USDC broke its peg, and there’s always FUD (fear, uncertainty and doubt) around Binance’s $BUSD and Tether’s $USDT.
Should we really be holding our savings in these financial instruments? Are stablecoins really that great?
Well, I believe that stablecoins are an incredible technological innovation and a really important component of the entire crypto space.
Yet, from my conversations with even those inside the web3 space, stablecoins are not well understood. 😕
If you live in the US, it’s likely that stablecoins don’t make much of an impact on your life. Yet, for billions of people worldwide, this technology is life-changing.
For that reason, in today's PRO Report, I’m going to dive into the importance of stablecoins, explain how stable these coins really are, and help you wrap your head around which ones to use and why.
Let’s dive in 👇