It is time to watch the stablecoin market. We are seeing more activity taking place. This is something that bodes monitoring over the next few years.
In this video I discuss how we are likely to see stablecoins as the main medium of exchange within cryptocurrency. For that reason, having increasing number of transactions is vital.
Here is the article mentioned in the video:
▶️ 3Speak
I think stable coins kinda safe port in the cryptocurrency world.
Why not? The better half of the DeFi is always a stable coin. So that is the best indicator that we are in a bear trend, which may not necessarily be a bad thing, in fact, it's a good redistribution.
I think stablecoins are the best ones out there and I am sure that most people are afraid of algorithmic stablecoins. They prefer it to be backed and I am looking forward to your plans to add to the use cases for HBD.
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Stable Coins circulating like crazy. Where is it all going to go ?
Bitcoin is due for a relief rally.
Good time to DCA (Dollar Cost Average)
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Now checking it against my database of known compromised or unsafe domains.. you'll see another reply if it's in there. If not, it's likely safe to open.
For more information about risks involved in shortened URLs, read this article by Forbes.
{average of post/comments with shortened links that I found: 16.8/h}
@cryptoshots.nft 🔫
P2E 3D game @ Hive
unfortunately HBD can't play with the big boys due to all it's limitations
stablecoins seem like a good choice right now and protect us a bit from market volatility
Summary:
Task discusses a recent article about stablecoins and highlights the significant increase in stablecoin transactions, particularly mentioning the rise in on-chain volume by 32.9% to an all-time high of $866.2 billion in August. He emphasizes the importance of stablecoin transactions in legitimizing cryptocurrency as a medium of exchange, pointing out the potential for stablecoins like USDC, Tether, and HBD to play a crucial role in financial and commercial activities. Task also expresses the need to focus more on stablecoins than traditional cryptocurrencies like Bitcoin and Ethereum, advocating for the integration of HBD into various platforms for payment purposes.
Detailed Article:
Task opens the video by discussing an intriguing article that caught his attention, published by The Block Research, which highlighted the significant increase in stablecoin transactions. The data indicated a notable spike in on-chain volume, reaching an all-time high of $866.2 billion in August, showing a 32.9% increase from the previous month. He mentions that the surge in stablecoin transactions could be attributed to events like the Tornado Cash incident, suggesting that people might be utilizing stablecoins to circumvent sanctions or other restrictions.
Task emphasizes the importance of stablecoin transactions as a metric that deserves more attention in the cryptocurrency space. He believes that stablecoins' role in facilitating transactions and payments is crucial for legitimizing cryptocurrency and blockchain technology. Task points out that the ability to engage in financial and commercial activities using stablecoins like USDC, Tether, and potentially HBD is a significant step towards mainstream adoption.
Furthermore, Task delves into the idea of utilizing HBD as a central payment token in various platforms, advocating for its integration to enhance the use case and utility of stablecoins. He discusses the challenges associated with regulatory entities' control over stablecoins and the perceived advantages of tokens like HBD that operate beyond traditional regulatory frameworks.
In terms of future developments, Task expresses his belief that stablecoins, particularly HBD, will play a pivotal role in the cryptocurrency space in the coming years. He suggests focusing more attention on stablecoins rather than traditional cryptocurrencies like Bitcoin and Ethereum, especially in the context of commercial activities and financial transactions.
Task concludes by encouraging viewers to consider the potential of stablecoins like HBD and the significance of integrating them into different platforms for payment purposes. He underscores the importance of stablecoins in shaping the future of cryptocurrency as a viable medium of exchange and hints at ongoing discussions regarding the integration of HBD into various operations on the Hive platform.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.