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Stablecoins are no longer a side narrative — they’re becoming the liquidity backbone of crypto.
Stables are now nearly as large as L1 ecosystems and DeFi combined.
That changes the hierarchy of value on-chain.
Capital isn’t just chasing volatility anymore. It’s parking in dollar liquidity, settling trades, bridging chains, and powering payments. L1s host activity. DeFi deploys capital. But stables are the capital.
Follow the liquidity — that’s where the real signal sits.
#defi #Stablecoins