Bitcoin: Will the Market Cap of Stablecoins Exceed that of BTC?
S table coins such as Tether’s USDT or Binance’s BUSD have become incredibly popular in the last couple of years. Binance’s BUSD s table coin has gained a market cap of $22 billion in just a few years of existence. S table coins have become an important instrument in the crypto space. Veteran trader Peter Schiff believes that the s table coin market cap will soon exceed that of Bitcoin (BTC). With the market capitalization of all #crypto tokens below $793 billion, the value of the two largest dollar-backed s table coins represents 14% of the market. That's 80% of the value of #Etherum, the 2nd largest. Soon the value of s table coins will exceed the value of #Bitcoin. — Peter Schiff (@PeterSchiff) November 21, 2022 Now Schiff does have an interesting argument, but still, beating the original crypto is no easy task. Will the stablecoin market cap exceed that of Bitcoin? Firstly, there are a lot of gears at work which has resulted in stablecoins...