The Ethereum blockchain, which is the home of some significant stablecoins, has seen its native ETH cryptocurrency flipped in relation to the cumulative transfer volume of stablecoins. Ethereum’s economy is now dominated by stable value transfer.
Cryptocurrency early adopters, like Zhao, see stablecoins as being against the main pillars which uphold the values of the industry. However, for new adopters, their stable value removes the volatility, which has been a barrier to entry for newcomers.
The mass adoption of cryptocurrency is already happening as many Youngsters are now into cryptocurrency and Blockchain. In Lagos Nigeria, my country, many people now transact with cryptocurrencies making the Africa’s largest economy one of the best places to start the crypto journey in Africa.
Also other coins like Ripple’s XRP, Dogecoin and Ethereum are getting widely accepted and traded in Nigeria, South Africa and Africa as a whole.