Binance CEO: Stablecoins might spark mass adoption of cryptocurrencies

Stablecoins have been a matter of debate in
the cryptocurrency sector for years. Due to the fact that they are backed by
fiat currencies or other assets, they are capable of securing their value,
which gives them an advantage over traditional cryptos. However, their
dependence on fiat money also makes them more centralized, in a lot of people’s
eyes.

However, as time goes by and crypto volatility remains as strong as ever, many are starting to consider giving stablecoins a chance. Some even believe that they could be a path to mass adoption, which is a rapidly growing sentiment.

Many of the currently existing stablecoins are
based on Ethereum’s blockchain, and thanks to this fact, Ethereum has seen a
massive increase in its total transfer volume.