Crypto security analyst and Paradigm adviser ZachXBT emphasized the importance of assessing the legitimacy of blockchain networks by looking at the circulation of stablecoins from major issuers like Circle, Tether, and Paxos. Following US President Donald Trump's announcement on March 2 about including certain digital assets in the country's strategic crypto reserves, ZachXBT pointed out that the presence of stablecoins from these issuers is a strong indicator of legitimacy. He highlighted that neither Cardano nor the XRP Ledger currently host major stablecoins, suggesting that if there was value to capture, the stablecoin issuers would have integrated their stablecoins into these networks. Additionally, ZachXBT noted that addresses linked to Ripple co-founder Chris Larsen still hold a significant amount of XRP, with the potential for continued selling off of the holdings.
Crypto Analyst: Stablecoin Circulation Key Metric for Blockchain Legitimacy
2025-03-03 21:03:20 Primitive Reading
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