USD backed Stablecoins have overtaken the transaction volume of Bitcoin and Ethereum. Moreover, analysts are also witnessing a wind of change towards Central Bank Digital Currencies (CBDC). As FIAT money begins to compete with crypto directly, there is massive uncertainty on its effect on Bitcoin.
The stablecoins are leaving begin crypto in trading volumes and even velocity. It measures the rate of turnover of supply, and stablecoins have had larger units supplied in the last one year. A combined report by Coinmetrics and Bitstamp reveals.