Stablecoins Steal the Spotlight: CoinDesk’s Weekly Crypto Rundown
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Move over, Bitcoin—stablecoins are running the show this cycle.
Why the sudden dominance? Traders flock to price-pegged tokens as volatility shakes legacy markets. Tether’s $100B+ market cap isn’t just a number—it’s a middle finger to traditional finance’s ‘stable’ fiat systems.
DeFi’s dirty secret? These digital IOUs now grease 70% of on-chain transactions. Meanwhile, central bankers still can’t decide if they’re ‘innovative’ or ‘a threat to monetary sovereignty’ (translation: we missed the boat).
Bullish take: Stablecoin adoption proves crypto’s utility beyond speculation. Bearish jab: Nothing says ‘mature asset class’ like everyone hiding in USD proxies during a dip.
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