• hisao@ani.social
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    4 days ago

    Crypto currency isn’t backed by a nation’s GDP

    Stablecoins? USDT is the most traded crypto globally since 2019.

    • Canaconda@lemmy.ca
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      4 days ago

      Well the value of the USD is based on the bond market which is essentially based on USA’s GDP.

      I’m not saying stable coins don’t exist. I’m explaining the fundamental valuation difference between crypto and national currencies.

      Also traded /= transacted. In the context of OPs question, the existence of stable coins has not pushed the needle on crypto from a trading asset to liquid transactable colloquial currency.