Update (March 3, 12:50 p.m. UTC): This article has been updated to add comments from the CEO of the Cardano Frederik Gregard Foundation.
Crypto security analyst and paradigm advisor Zachxbt said that the circulation of stalls of the main transmitters such as Circle, Tether and Paxos should be a key measure to assess the legitimacy of blockchain networks.
His comments followed the announcement of American president Donald Trump on March 2 according to which certain digital assets are included in the strategic reserves of crypto in the country. Trump identified Bitcoin (BTC), ETHER (ETH), XRP (XRP), Solana (Sol) and Cardano (ADA) as the active ingredients to be included in the reserves.
On March 3, Zachxbt argued that the presence of stablecoins emitted by Circle, Tether and Paxos is a strong indicator of the legitimacy of a blockchain. He noted that neither Cardano nor the XRP LEDGER is currently hosting an offer of major stablescoins.
He said that if the main stablecoin transmitters saw “the value of capturing” on the blockchains, they would have integrated their stablecoins into the networks.
Source: Zachxbt
The integration of stablescoin is “a single metric”
In a statement to Cintelegraph, Frederik Gregard, CEO of the Cardano Foundation, told Cintelegraph that the blockchain industry should go beyond “simplistic legitimacy measures”. The executive said that the integration of stablescoin is only one of the many measures demonstrating the adoption and usefulness of blockchains:
“True legitimacy comes from fundamental elements, in particular security, decentralization, sustainability, development activity, real utility and community engagement.”
The executive said that the Cardano Foundation approach has prioritized construction infrastructure that can support financial systems worldwide. Gregard told Cintelegraph that the objective of the Cardano ecosystem was technical excellence, security and scalability. As his capacities develop, he said he expects the main stablecoin issuers for the network to increase.
“As the adoption of transactions increases and our capacities are developing, we are predicting an increasing interest in the main stable transmitters, reflecting the maturity of Cardano blockchain,” said Gregaard.
Gregard also stressed that even if they are not hit directly on Cardano, floors like Tether (USDT) and USDC (USDC) can be used in the ecosystem via the Wanchain bridge.
He said the foundation is “open to collaborations” with the main stablecoin issuers and will endeavor to attract new stablecoins to the ecosystem.
The addresses linked to Chris Larsen contain more than $ 7 billion in XRP
In his official telegram group, Zachxbt also pointed out that the sleeping wallet addresses linked to the co -founder of Ripple Chris Larsen still hold 2.7 billion XRP. With XRP merchant at $ 2.64, these assets are valued at around $ 7.12 billion.
He said the addresses transferred around $ 109 million to XRP to trade in January, which implies that portfolios could potentially continue to sell the huge hiding place over time.
However, he pointed out that several addresses have been dormant for six to seven years, leading to speculations that Larsen may have lost access to the funds or transfer them in 2013.
On January 31, 2024, Zachxbt reported that Larsen had been hacked for 213 million XRP worth around 112.5 million dollars at the time.
Cointelegraph holded the hand to Ripple for comments but did not receive an answer by publication.
In relation: How stablecoins improve the usefulness of the US dollar – CEO of Paxos
Stablecoins in XRPL and Cardano networks
Although the main stablecoin transmitters are not on XRPL or Cardano blockchain, the two networks have stablecoins within their ecosystems.
On December 17, 2024, Ripple’s Stablecoin Rlusd began to negotiate on the Remolt, Moonpay, Archax and Coinmena exchange platforms after the New York Ministry of Financial Services approved the launch of Stablecoin on December 10. On January 7, the president of Ripple Monica Long said that Rlusd de Ripple would soon be registered on the main exchanges.
Meanwhile, Cardano also has its stablecoins. In 2022, Cardano launched Djed (DJED), a stable coat -based supported by Ada and used Shen (Shen) as reserve. According to Coingecko, the token has a market capitalization of $ 4 million.
In 2024, Cardano joined the Stablecoin USDM supported by Fiat. On March 18, the launch of the USDM encountered the optimism of members of the Cardano community and considered a “major step” for the network.
https://www.youtube.com/watch?v=fdpmjhtq5am
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