On-Ramp Stability in Light of Energy Volatility

Interesting seeing $ZAPP trading down so heavily today, off over 46% after that early pop. It's a reminder of the general market jitters even as some of the broader indices seem to hold up. Been watching the stablecoin on/off-ramp space for a while now, specifically with an eye towards payment rails for smaller fintechs. You'd think the stability of a pegged asset would insulate these plays somewhat from the more traditional equity rollercoaster, but clearly the market isn't making that distinction.

What's got my attention is how energy's moving. $XLE is pretty flat today, hovering around 63.64, but the underlying volatility in crude globally is still a major factor. If we see a sustained push in oil, and by extension inflation concerns re-emerge, does that put more pressure on central banks? And if so, how does that ripple through to the cost of capital for these fintechs that rely on stablecoin rails, even if the stablecoin itself is ostensibly 'stable'? My watchlist for these on-ramp providers is focusing more on their balance sheet health and actual payment volume, less on pure speculative growth, given the current macro picture.