Stable coin: new crypto trend?

[Bobcrypto]

Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments emerging across the board. While some attribute this growth to the booming interest in decentralized finance among crypto enthusiasts, others see it as a bullish trend that confirms the inflow of fiat currency to the crypto ecosystem.

Article: Stablecoins race ahead: Fiat-backed crypto booming amid uncertainty

It can be said that stable coin has made great developments in 2020, despite the pandemic causing the decline of the world economy. The daily transaction volume of USDT is even equal to the total transaction volume of BTC & ETH.
Do you think the cause is DeFi, is the trend of moving traditional assets to crypto assets or is it because CBDCs have become the concern of governments?
And will this very rapid development have any negative effects on the world of crypto?

Firstly, the cbdc coming in will not affect crytop in any way but I think it enhance further crypto development, awareness, popularity and world wide adoption in few years to come.
In addition, stable coin growth is not because of Defi projects neither the CBDCs growing concern of governments.
I think that the hour has come that the nation's of the world has realize the advantages of the Blockchian technology that brought in crypto, plus the impact of the stablecoins in the ecosystem. Obviously, more innovation are coming and crypto will definitely be the centre of the current technological invention.

[hushpupppy]

I do not think there are any where in the crypto currency scene where there are bias towards stablecoin. Everyone treats stablecoin as the best resort, not the final resort. Which means as a trader, hodler, or investor; you have the opportunity to use stable coins to the best of your ability.
Functions such as:

1. Stablecoins can be used to preserve and maintain the value of your portfolio on the longurn.
2. Stablecoins can help you switch trades easily between btc pairs or eth pairs.

And lots more, whats important is to stick to the best amongst the pack of stable coins.
Always do your own research

[mohdelayo]

The rapid growth and development of stable coins is actually a big plus to the general crypto community. I would say institutional money are for now flowing more into the stable coins because of their design by protocol and the fact that institutional investors are going for a safe landing spot because spreading their portfolios as the gain more confidence and familiarity with the tech.

[Quart]

In my opinion, a stable coin is good to be used for pairing in the market. But for holding, it is not enough. So far, there are several stable coins and we need to find the trusted one. However, I personally choose not a stable one because it can relate to our movement.

[Arendra]

I think the government is starting to look at this. When there is an economic downturn, many people think of finding a way out. And the best way out is investing in something that yields fast, like crypto.

[IvugeoEvolutionCoin]

I think that's not true because if you look at the conditions, stablecoins should not be trending because that will only make it difficult for us to make a profit.

[Legion]

I think that's not true because if you look at the conditions, stablecoins should not be trending because that will only make it difficult for us to make a profit.

I totally agree with what you said.

[mohdelayo]

I think that's not true because if you look at the conditions, stablecoins should not be trending because that will only make it difficult for us to make a profit.

But considering the volatile nature of the crypto market, stable coins are a good assets to help traders maintain their profits. Those with deep pockets are making profit from the slight changes in stable currencies price and average traders are hedging on stable currencies.

[Gubre]

I think the very reason of those who were buying usdt are new but wise investors. They understand that cryptocurrency is volatile and if they want to make sure that their fund is safe from this risky manner of crypto while finding a good project to invest they should have to have a good choice and that is what USSR all about because it is a stable coin.

[Altcoin1998$]

I don't think this is a new trend, the current trend is about DeFi but I see it is still related. In these conditions, people want to keep their money safe and without losing anything in crypto and stable coins are the right place for that.

DeFi a temporary hype maybe. It wouldn't everlasting. But USDT, PAX, USD will be ever lasting till cryptocurrency lasting. The digital yuan will be a stable coins which destroy American dollar.

[Dora Walletinvestor]

Cryptocurrency is one of the products that will play a huge role in the economy in 2020. These include Bitcoin, ethereum and Bitcoin Cash. These currencies occupy a huge place in the economy. I think the wheel of the economy has kept moving. Because cryptocurrency markets were not damaged during the epidemic. During the epidemic I saw that these currencies prevented the destruction of the economies of different countries and I think the economies of different countries have improved. These cryptocurrencies have a special role to play in keeping the economy afloat in countries where cryptocurrencies are approved. So I think Bitcoin has kept the wheel of the economy moving, Bitcoin has had the highest amount of cash transactions, I have seen. So these coins are really good and I am very proud of them. Because I trade these coins.

Your're right, these coins have a significant place in the market. Stablecoins also have potential in my opinion, but they are considered concerning from a monetary policy standpoint.

[Jaephoenix]

Yeah. In all the turbulence of 2020, this year has relatively been kind to cryptocurrencies unlike the last 2 years infamously known as the Crypto Winter where coins were biting the dust and many projects frozen

[Crypto Guard]

Where a pandemic is very influential on the economy, this stable coin is indeed the right choice. So many people do not waste the opportunity to invest in stable coins.

[pelana vreo]

Stable coin makes crypto users easily store their crypto assets without worrying about fluctuating prices, if you look at the current trading volume of stable coins, such as USDT is in the top 5 CMC rankings which means crypto users have started to find ways to keep their assets after getting profit from trading or sending money to another country in digital form to reduce costs if they make a transfer between banks that have a higher price for fees on each transaction

[Istiak]

Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments emerging across the board. While some attribute this growth to the booming interest in decentralized finance among crypto enthusiasts, others see it as a bullish trend that confirms the inflow of fiat currency to the crypto ecosystem.

Article: Stablecoins race ahead: Fiat-backed crypto booming amid uncertainty

It can be said that stable coin has made great developments in 2020, despite the pandemic causing the decline of the world economy. The daily transaction volume of USDT is even equal to the total transaction volume of BTC & ETH.
Do you think the cause is DeFi, is the trend of moving traditional assets to crypto assets or is it because CBDCs have become the concern of governments?
And will this very rapid development have any negative effects on the world of crypto?

There are already so many of them and more coming. But I think this is good for crypto because before many don't want crypto because of its volatility. So now we have a stable coin that can be used for any kind of payment system. This will help people to adopt crypto more easily as they desire.