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On The Brink with Castle Island

Jul 20, 2020

Nate Maddrey, senior research analyst at Coin Metrics, joins the show to discuss a recent report published by CM in collaboration with Bitstamp, The Rise of Stablecoins. We talk through the report and analyse some of the charts in depth. In this episode: 

  • Why the auditability of public blockchains is so useful for evaluating stablecoins
  • Why fiat backed stablecoins have different price dynamics from 'native crypto collateral' backed ones
  • How the arbitrage growth cycle works for fiat-backed stablecoins
  • What the distribution of ownership and addresses for USDT tells us
  • Liquidity for USDT versus USDC and BUSD
  • Distinguishing stablecoins based on median transfer value
  • Stablecoins as wholesale rather than retail value transfer networks
  • What velocity of stablecoins relative to bitcoin and ether tells us