I stumbled upon a captivating news piece online titled 'Stablecoins Settled as Much Value as Visa in 2022.' It's quite intriguing. Lately, I've been engaged in discussions with my friends about the implications of the growing adoption of stablecoins as a payment option in the current global landscape. To me, it appears to be a positive trend for the world of cryptocurrencies and us crypto users. More individuals are becoming acquainted with crypto, and it's increasingly becoming a preferred choice for many.
If stablecoin gets adopted it's a wrong representation of the industry because most popular stablecoin are as centralized as the fiat currency therefore it won't make any difference as they can easily regulate the stablecoin and take control of it but they can't do that if bitcoin get adopted as the more preferably alternative payment currency. Stablecoin adoption only gives way for the government to increase their development of CBDC and that won't be good for decentralized finances.
Stablecoin are not as stable as we think and those that are holding strong are been manipulated like Tether USDT. There has been many allegations against them yet they're still functioning like nothing happened but if similar allegations were against small stablecoin they'll be died.