the stable coin has been of great importance in crypto industries for the past few years and I elaborate in my previous post on how stables are saving many youths and banks in my previous post. In that post, I talked about why I think crypto is here to stay and the panic ust caused will be forgotten in due time.
ever since the tragic ust situation people have been trying to avoid the stable coin, I realized some of the people that are looking for the end of the stable coin here on hive are still holding a lot of it. for someone that deals with crypto day and night can we ignore stable coins that is the question have been asking myself.
the bear
the bear market is a different beast that will don't want because your hand earns money will be disappearing in the front of your eye and you won't be able to do anything about it. most people prefer to take out some of their profit in a bull market and when the bear comes with its bloodshed they will then grow their bag 5x than what it was.
during the bear market, people convert most of their hard earn money into the stable coin to avoid much loss and when the market is recovering they will start accumulating again to put them in a better position when the bull market comes.
with and without stables
the truth about everything is that people calling for the end of the stable coin don't know its importance and with or without stable coin crypto will survive but the difference will be there and it will be much harder for everybody especially for the weak hands, to avoid stable coin means you have to withdraw your money into your account and the main reason why people holding stable coin is that if this money should be in their account they will spend it because of many real-life challenges and this will spoil their plans.
stable coin helps Africans to beat inflation of bad currencies, some African currencies lose value easily and this help to beat this and some counties that put a tax on crypto, withdrawing and depositing all the time only increase the level of the tax you be paying which is not good all.
conclusion
many reasons why stable is good and how we can use it to our advantage but if all stable should go down we will see a massive beating on the market and people will struggle with crypto just like they did in the 2018 bear market. things are better now because we have the stable coin, defi, a
and so on...
Posted Using LeoFinance Beta
Stable coins are not going anywhere and crypto is still going to be around. With fiat being the key value we compare to, it's going to be around for a long time but I would not be surprised to see some disappear over time.
Posted Using LeoFinance Beta
I won't be surprised too
Posted Using LeoFinance Beta
I won't be surprised too
Posted Using LeoFinance Beta
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