My dear friends, what an absolutely scandalous affair we have in the realm of stablecoins! 🎭 The market, darling, has swollen to a positively vulgar $235 billion – quite enough to make any banker faint into their champagne! 🍾
Oh, the drama of it all! Two American darlings, USDT and USDC, are hogging 90% of the spotlight like prima donnas at the opera. Meanwhile, the poor Euro stablecoins are lurking in the wings like understudies who never get their moment to shine. How dreadfully unfair! 😱
The true comedy, my dears, lies in this absurd obsession with “liquidity.” Without it, they say, no stablecoin can succeed. Rather like a party without champagne – utterly pointless! 🥂
The Tragic Tale of Non-USD Stablecoins
Consider the Euro stablecoins, those poor continental cousins! They’ve been trying to make their debut in society for years, but alas! They remain as popular as last season’s waistcoats. The market makers, those frightfully boring creatures, won’t give them the time of day. How terribly gauche! 🎪
The USD stablecoins, those frightfully American things, swagger about with their “deep liquidity” and “high trading volumes” like nouveau riche at a garden party. Simply exhausting! 🎩
Regulation: The Most Tedious of Solutions
Some suggest regulation is the answer, darling. How drearily conventional! It’s like suggesting a cup of tea will cure a broken heart. The Europeans, with their MiCA regulations, are trying to make EUR stablecoins happen. It’s rather like forcing everyone to eat snails – terribly continental, but will it catch on? 🐌
A Matter of Incentives, Darling
The whole affair reminds me of a London season – it’s all about who has the most attractive proposition. Without proper incentives, these non-USD stablecoins are like wallflowers at a dance, desperately hoping someone will notice them. How perfectly tragic! 💃
The solution, my dears, is elementary: make liquidity provision as irresistible as Oscar Wilde at a dinner party. Once the financial incentives align, everything else will fall into place like dominos at a particularly wild soirée! 🎲
Note: The author’s views are as changeable as London weather, and about as reliable as promises made at midnight. 🌙
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2025-04-07 17:32