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The Ever-Evolving Nature of Stable Coins and Crypto Recovery in 2021

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On March 8, CZ said in the AMA that the stable currency supported by the legal currency will not exist for a long time, and the stable currency will continue t…

The Ever-Evolving Nature of Stable Coins and Crypto Recovery in 2021

On March 8, CZ said in the AMA that the stable currency supported by the legal currency will not exist for a long time, and the stable currency will continue to evolve and iterate. In the long run, stable currencies supported by illegal currencies may dominate in 10 to 20 years. It is expected that this year will be a year of recovery of encryption adjustment, and there is no expectation of setting a new high.

CZ: The stable currency supported by legal currency will not exist for a long time. It is expected that this year will be a year of recovery of encryption adjustment

Analysis based on this information:


In a recent AMA session held on March 8, the CEO of Binance, CZ, made several predictions about the future of stable coins and the crypto market as a whole. One of the most significant points that he made was that stable coins supported by legal currency will not be around for a long time. CZ pointed out that stable coins, which are tied to legal currencies, will continue to evolve and iterate, eventually leading to the emergence of stable coins supported by illegal currencies.

CZ’s prediction is based on the understanding that the current stable coins, backed by legal currency, are not the most efficient way to transact in cryptocurrencies. They are bulky and face challenges in terms of regulatory compliance. This creates an opportunity for illegal stable coins that are not compliance-focused, and this kind of stable coin is well-positioned to become the dominant force in the market in the next 10 to 20 years.

Furthermore, CZ also discussed the trajectory of the crypto market in 2021. He stated that this year will be a recovery year for the industry. However, despite the high hopes that the market will reach new highs, CZ does not believe that this is a realistic expectation. CZ explained that the market is still recovering from the losses it incurred in 2018 and 2019. While there has been significant growth in the crypto sector over the last year, there is still a long way to go before it can be declared fully recovered.

Overall, CZ’s predictions about the future of stable coins support the general understanding that the crypto market is still in its infancy, and as such, it is a constantly evolving and adapting industry. There is a need for stability in the market to ensure sustained growth, and the emergence of illegal stable coins is a step in the direction of achieving such stability. Additionally, CZ’s prediction about the future of the crypto market in 2021 highlights the need to temper expectations and understand that while the market is on an upward trend, it is still in the process of recovery.

In conclusion, the crypto industry is one that continually evolves, and while predicting the future is difficult, CZ’s insights provide us with a glimpse into what the market might look like in the coming years.

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