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I think it’s also partly to do with the incredibly high interest rates paid out on stable coins at the moment with many crypto services. I mean 12% on stable coins on crypto.com earn program sounds pretty good to me, or a flexible option of 8.6% with blockfi where you can withdraw and trade your stable coins at any time. With the historically low interest rates at the moment, I think many are turning to the stable coin option to get higher returns.
RE: There is roughly $8 billion sitting in stablecoins, good thing or bad thing?