Stablecoin-focused chains hold firm even in a down market

Uk Jin

Summary

STABLE rose 11.64% from the previous day, posting the highest daily gain among the top 100 by market capitalization.
STABLE, backed by Tether (USDT), aims to spread Tether as a global standard for digital payments by combining fast processing, low fees, and a stable unit of account.
As stablecoins’ integration into the regulated financial system accelerates, Layer 1 blockchains specialized in stablecoin payments and issuance are emerging as alternatives, with Canton (CC) also holding firm.

Forecast Trend Report by Period

Blockchains specialized in stablecoin payments and issuance—digital assets pegged to fiat currencies—are holding up well even amid a broader market downturn.

As of 3:56 p.m. KST on the 2nd, STABLE was trading at $0.02567, up 11.64% from the previous day on CoinMarketCap. That marks the biggest daily gain among the top 100 cryptocurrencies by market capitalization as of that day.

STABLE is a blockchain backed by Tether (USDT), the world’s largest stablecoin. It aims to make Tether a global standard for digital payments by combining fast payment processing, low fees, and a stable unit of account into a single infrastructure.

STABLE is not alone. Canton (CC) also remained up in the 4% range intraday on the same day.

The trend is widely seen as reflecting growing market expectations for blockchains that can serve as practical payment and settlement infrastructure as stablecoins’ integration into the regulated financial system accelerates. Earlier, the Korbit Research Center said in a report that “as public blockchains have shown limitations in privacy, finality, and regulatory compliance, Layer 1 blockchains specialized in stablecoin payments and issuance are emerging as alternatives.”

STABLE