if we look at 5 years back, cryptocurrency can still run and develop even though at that time stable coins did not exist,
but now stable coins have appeared and many of them,
I sometimes ask, do we really need to have a stable coin?
because I feel stable coins are made one of them to enrich the team and dev,
because if they sell coins it won't affect the market because it's a stable coin,
this is only my opinion,
so give your opinion so that I have a lot of insight.
@ ayatoslaw,
I found this summary about how Stablecoins benefit our financial system.
I think Stablecoins offer more benefits, but these 3 are probably the most important at the moment
Reasons People Use Stablecoins1.
Exchanges: Cryptocurrency traders can reduce their exposure to Bitcoin by selling their Bitcoin for stablecoins. This allows traders to keep their wealth on an exchange without converting back into fiat. This is useful for two reasons.
First, many exchanges take days to convert fiat into crypto, which means investors must wait to trade.
Second, converting back into fiat means a tax bill is coming soon, since most exchange on- and off-ramps now require KYC-AML.
2.
Inflation hedge: People in countries with high inflation and hyperinflation can hold on to stablecoins in order to preserve their savings. Bitcoin is too volatile for most people in Venezuela. Instead, they would prefer to hold onto cryptocurrencies backed by gold or Swiss francs.
3.
Interbank settlement: Interbank settlement is a trillion-US dollar industry, as discussed in the chapter on Ripple in the June 2019 edition of the Crypto Research Report published by Incrementum. Instead of giving away billions in revenue to Ripple, companies such as J.P. Morgan are releasing their own centralized stablecoins backed by fiat in order to settle transactions globally on a permissioned blockchain instead of legacy banking software.
https://ingoldwetrust.report/wp-content/uploads/2019/05/In-Gold-We-Trust-2019-Extended-Version-english.pdfp247