What has changed.

It is in human nature to criticize and question what they have always believed in when there are little or no problems. It is in human nature to criticize and question what they have always believed in when there are little or no problems. Sometimes this questioning might be right leading to our best escape from a tragic event and sometimes this will just be another loss of opportunities for us or lead us to where we lose everything.

When the tragic event of luna/ust happens people are very confused and all of a sudden stable coin, in general, is not good. I saw too many things on social about how a stable coin was designed to fail and panic everywhere leading to many people redeeming their usdt in the process.

The importance of a stable coin has grown and it has shifted from just buying and selling alone, the stable coin has turned to a coin that gives bitcoin a lot of sense and if all stable coins in the crypto industry should go to zero as ust did, bitcoin might go back to be traded below 1k because many people will lose hope and this will create a shock for many who believe in crypto.

**

the guard

*

the ways Africans view stable coins is quite different from most developed countries, the stable coin has helped many Africans youth in savings and helps to fight inflations. Nigeria's naira, for instance, has been losing value for a few years now because the naira was 300 per dollar three years ago and now it is traded at around 600 per dollar which is ridiculous. to fight this inflation many youths hold stable coins as a means of protection in other to retain the value of their money. millions are pumped into stables every day from Africans to avoid this painful consequence because of bad governance.

the strategy is also used in some South American countries too because of a bad economy. this is one of the reasons why crypto has become popular to many youths on this side of the world and not because they know full well of the peg or their love for crypto but for this reason alone they invest in stables. it is a profitable business here in Africa, just imagine how much you would have gained if you've been holding a stable coin since three years ago in Nigeria.

stables coin is helping newbies in crypto because the first coin they are always interested in buying is stable and also helps large people from inflation and bad governance.

**

conclusion

*

stable coins are used for many purposes now online and the opportunities it brings during the bear and the bull market are limitless. instead of criticizing and trying to bring more stable coins down, I think we should focus more on ways to truly makes the stable coin more acceptable because a stable coin makes more people feel safe in any market and I don't see any future present without a stable coin and the current market price says it all.

Posted Using LeoFinance ^Beta