A closer look at the evolving stablecoin ecosystem

The rise of digital currencies, exemplified by Bitcoin (BTC), brought a groundbreaking shift in the financial landscape. 

However, it also brought to light a critical challenge: price volatility. Bitcoin and many other early cryptocurrencies exhibited extreme price fluctuations, making them difficult to use for everyday transactions or as a reliable store of value.

Users recognized the need for stability when dealing with digital assets, particularly when conducting business or holding assets for an extended period. This need for stability in the digital currency realm paved the way for the development of stablecoins.

As a result, stablecoins emerged to address the need for a reliable and…

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