Stablecoin presence key to blockchain legitimacy, says ZachXBT
ZachXBT said major stablecoin issuers like Tether and Circle define blockchain legitimacy, while questioning the absence of stablecoins on Cardano and XRP Ledger.
Crypto security analyst and Paradigm adviser ZachXBT said the circulation of stablecoins from major issuers such as Circle, Tether and Paxos should be a key metric in assessing the legitimacy of blockchain networks.
His comments followed US President Donald Trump’s announcement on March 2 that certain digital assets would be included in the country’s strategic crypto reserves. Trump identified Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA) as the assets to be included in the reserves.
On March 3, ZachXBT argued that the presence of stablecoins issued by Circle, Tether and Paxos is a strong indicator of a blockchain’s legitimacy. He noted that neither Cardano nor the XRP Ledger currently hosts a supply of major stablecoins.
