Emin Gün Sirer, CEO of Ava Labs, the company behind the Avalanche protocol, explained to Business Insider that the real success of cryptocurrencies As a social phenomenon, it will only happen if fiat-linked stablecoins become the No. 1 coin by market cap.
“We are not close to success until the top coin is stablecoin, that is the real indicator of our success.”
As of now, Tether (USDT) is the most important stablecoin in the crypto world, with a market cap of approximately $69.6 billion, ranking 5th on the list of most valuable cryptocurrencies.
In fifth place on the list is USD Coin, a stablecoin managed by Circle and Coinbase with a market cap of $32.6 billion and friendly ties with US regulators.
Emin Gün Sirer expects the use of stablecoins to increase, especially among DeFi users, as the advantage of these coins is that users will be able to precisely control the value they are trading.
“People want to borrow money. And they want more stablecoins, so I expect tether, Circles to grow – and it will be really exciting.”
refer : LINK
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