The Daily Leo | Stablecoins are no Longer an Experiment
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Stablecoins are no longer an experiment: what this means
Stablecoins have become a crucial part of the crypto market and they solve a real-world problem. Earlier these coins were used to sell other crypto and hold and wait for another buying opportunity but not anymore. It started as an experiment but not anymore because they have real use cases and we can see the growth in its demand. We see a lot of demand for stablecoins in the market and it is growing over time
Back in 2017, the trend for ICO was a lot and at that time there was a project called Scorum. This project started out with the high ambition to become a hub for sports and betting. Now this has come to an end. Some projects just stop working on the development and at some points, they announce the closure also which is followed here in this project
Currently, the bitcoin price is looking good but its dropping this time. The US dollar is weakening and even the bitcoin price is dropping but in the long run, we can expect the Bitcoin value to rise. CPI numbers were quite good and could have reassured the market and it shows the current dip in the USD strength
Crypto has come to the state where some of the bills are presented in the US and some other countries. Recently Connecticut lawmakers have passed House Bill 7082 and which bill prohibits and local government divisions from purchasing in the reserves of virtual currency. This bill has received good support passing with 148 votes in favor and no vote received against this.
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Stablecoins will become increasingly used for crypto trading. Now that Circle is going public, the popularity of stablecoins will increase. thanks for sharing this very useful information. !WEIRD