Bitcoin and Ethereum — though “wildly successful” — have not fulfilled the original expectations many had for crypto, according to an executive at Pantera Capital.

But stablecoins are poised to, Jeff Lewis, a product manager at the crypto-focused hedge, wrote in a Tuesday letter.

Fifteen years after the Bitcoin whitepaper, BTC’s lack of speed and scalability hurts its case for being a good replacement for money, he notes. Ethereum “has become the programmable decentralized system that Bitcoin alone could not be,” paving the way for an ecosystem of NFTs, Web3 applications and DeFi powered by ether [ETH].  

“Unfortunately, Ethereum is almost as volatile as bitcoin,…

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