Quick Facts:
1️⃣ Venture capital firm a16z reveals stablecoin trends in a new report, strengthening long-term conviction in the broader crypto market.
2️⃣ The growing transaction volume and market cap signal that the market’s expansion is unstoppable, should crypto infrastructure keep up with rising adoption.
3️⃣ The report is good news for the emerging Best Wallet Token, its presale pushing closer to the $17M milestone.
The claim is backed by strong numbers:
Over 1% of all US dollars in circulation exist on public blockchains as tokenized stablecoins. Together, they hold more than $150B in US Treasuries, leaving countries like Saudi Arabia and Germany behind to secure the 17th ranking.
Although the crypto market is wobbly after $BTC hit a new ATH earlier this month, that hasn’t tainted its long-term picture.
The recent turbulence may have managed to knock $BTC off $110K, but stablecoin trends signal that the market’s maturing – and price corrections are part of the deal.
To grasp how staggering that figure is, we just need to compare it with the world’s largest payment networks.
Stablecoin volume is now nearly three times Visa’s volume ($16T) and set to overtake ACH Network ($87T), the same a16z report showed.
While stablecoins were limited to crypto nerds in their early days, they’re now seen as one of the most reliable ways to transfer money cross-border. Ease of use is definitely the primary factor behind their wide use.
Financial giants and fintech companies have also been actively exploring the digital asset market, encouraging others to follow.
For crypto investors, the newly published report is a reminder to expand their portfolios. But being mostly pegged to US dollars, the value of stablecoins reflects the growth of the US economy – not the crypto market.
So how can one gain exposure to this booming sector? The answer lies in promising crypto infrastructure projects, which reflect the market’s rapid growth.
Unless blockchain infrastructure evolves alongside rising retail and institutional crypto adoption, sustaining growth will be difficult.
Noncustodial wallets, in particular, are growing more popular than ever. Since holders have complete control over their private keys, they allow true ownership – in line with the market’s original motto of financial freedom without intermediaries.
What’s behind this growing frenzy?
For example, the platform plans to launch an everyday crypto shopping card in its next phase, as part of its mission to drive retail crypto adoption.
More than a representation of the project, $BEST unlocks various perks and privileges in the ecosystem – like early access to new projects, reduced transaction fees, higher staking rewards, and community governance rights.
These utilities could work well to anchor the token’s value and resilience, helping it withstand turbulent markets and maintain steady growth.
The investment opportunity is still fresh, since $BEST has yet to go live on exchanges. Now in the second roadmap phase, the token is available for purchase at just $0.025835 for the next few hours.
Once the next presale stage begins, new adopters will have to pay a higher price to secure the token. Additional staking rewards apply, but the rate is dynamic and bound to go down over time (currently at 79% APY).
As always, do your own research before investing in crypto. This is not financial advice.
