Stablecoins have grown in popularity as many users and investors saw these crypto assets as a bridge between traditional finance and the crypto asset space. These assets promised stability to users unlike other volatile crypto assets such as Bitcoin. These coins, though relatively small, in terms of market capitalisation, have seen their popularity rise in areas with unstable financial conditions such as South America. However, with Terra Luna and its sister currency TerraUSD crashing almost 100 per cent, the stablecoin narrative has been severely affected.
Are Stablecoins Turning Unstable?
Are Stablecoins Turning Unstable?
Are Stablecoins Turning Unstable?
Stablecoins have grown in popularity as many users and investors saw these crypto assets as a bridge between traditional finance and the crypto asset space. These assets promised stability to users unlike other volatile crypto assets such as Bitcoin. These coins, though relatively small, in terms of market capitalisation, have seen their popularity rise in areas with unstable financial conditions such as South America. However, with Terra Luna and its sister currency TerraUSD crashing almost 100 per cent, the stablecoin narrative has been severely affected.