Without a doubt it's somewhat of a craze at this very moment, but to be fair the ecosystem started moving in this direction more than a year ago now. Most people might more familiar with the controversial Tether, but today there's actually tons of choices out there, and more of them keep sprouting everyday.
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The necessity for stable coins is not only obvious, but crucial to the survival of this space, however, I believe this to be nothing more than a bridge that is currently necessary for mass adoption to begin. In other words, in the long term, I don't believe stable coins would be that widely used or necessary, except for those who actively trade heavily.
Just yesterday I was reading on this new partnership announced by Wirex in conjunction with Stellar. They plan on bringing 26 stable tokens into the market and "revolutionize" a payment system. Now, there's a need for air quotes here, simply because overpromising is something all crypto projects like to do, and I'm way beyond getting excited for such things. That being said, the direction we are moving towards seems to be the correct one, creating a system where people actually use crypto for their everyday activities.
Because I'm sure someone might be wondering my position on this matter, I will say this: Short term, I'm all for stable coins, long term I couldn't care less. Why, you may ask? Simply because when marketcaps become big enough, the fluctuations won't matter for everyday usage. In other words, volatility is never truly going to go away, but the swings will become imperceptible to someone buying a cup of joe with BTC or LTC, or pick your favorite horse.
MenO