Stablecoins Hit $3.7T: Why Market Momentum Outmuscles Price Mechanics
Forget fiddling with spreads—stablecoins just bulldozed past $3.7 trillion on pure demand. Here’s why traders care more about liquidity than perfect pegs.
The Velocity Play
When capital needs to move, it doesn’t stop to check the arithmetic. Market forces—arbitrage windows, institutional flows, even speculative churn—propelled this growth while economists debated basis points.
Pegs Are Guidelines, Not Laws
Every ‘stable’ coin wobbles under pressure. What matters? Whether the ecosystem treats it as money. These assets now bypass traditional forex rails—proving adoption beats perfection.
The Cynic’s Footnote
Wall Street still charges 30bps for FX conversions. No wonder crypto built a faster horse.