The founder of the Avalanche network, Emin Sirer, claims that the “reasonable” value of stablecoins will give them an edge over other cryptocurrencies. He believes that we will not complete the formation of the crypto market until stablecoin becomes the number one coin, that is, the first sign of the massive success of cryptocurrencies will be the fact that any stablecoin will overtake Bitcoin and become the leading digital currency.
It's understandable cause apart from being able to stabilize price volatility, stablecoins are also supported by multiple sources of assets. It could be a traditional currency like the US dollar, commodity, precious metals, or algorithmic functions, or other cryptocurrencies.
However, the risk level for stablecoins is greatly influenced by its backing, so isn't that a "too much" claim?
https://markets.businessinsider.com/news/currencies/avalanche-avax-emin-guen-sirer-founder-bitcoin-stablecoin-tether-usdc-2021-10https://swapzone.io/blog/stablecoinsHe is right. One of the reason many people stay away from crypto is their belief of how unstable crypto is. Stablecoins as an investment would be a good introduction to such people.
We can see how prominent the stable coins are by marketcap. And if we are to have a bullish market, larger value would be driven to stable coins and we could probably see stable coins being on the top of crypto by marketcap. There were several predictions about which coin would replace bitcoin and it would not be a wonder if it would be Tether.