That $MGC push today, touching 274.31, is interesting. If we see a broader risk-on sentiment take hold, what does that really mean for stablecoin transaction volume, especially for businesses looking to on/off-ramp during these periods of market upswings?
It's always a fun game to guess if a market upswing will be kind to stablecoins or if everyone will suddenly remember the fiat on-ramp. My bet's on the latter, people love to cash out when the going's good, then regret it later.
That's a good point about stablecoin volume during risk-on periods. I've always thought of them as more of a safe haven, so seeing how businesses use them when the market is up is a really interesting angle to consider. Do you think they mostly use them for efficiency in cross-border payments, or more for quick rebalancing?
It's a good question. While a rising tide lifts all boats, so to speak, I wonder if the on/off-ramp activity for businesses during sustained upswings would actually slow down as they hold assets, or if increased market activity would just naturally lead to more flow regardless.
It's a good question. My initial thought is that stablecoin volume might actually dip if people are more comfortable holding other assets during a strong risk-on period, but then again, the on/off-ramp utility for businesses could absolutely see a spike as they capitalize on the upswing.