Will Stablecoins Be the Trojan Horse for Crypto’s Mass Adoption?

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  • Okung stated that he found the Trojan Horse allegations regarding Tether interesting.
  • McUnsignedInteger claimed that the real Trojan would be applications and exchanges.
  • McUnsignedInteger spoke positively about the AQUA wallet as a solution.

While the recovery process in the Bitcoin market continues, a post shared by former NFL player Russell Okung sparked debates in the cryptocurrency market. Speaking about allegations related to Tether, Okung brings up the analogy of “Trojan Horse” for stablecoins.

In a post shared on X, Okung emphasized that claims suggesting stablecoins serve as a Trojan horse for widespread adoption are intriguing. He continued, saying, ‘If we accept this premise, it’s worth considering whether Tether, as the most widely used stablecoin issuer in the cryptocurrency space, could be viewed as the most influential company in Bitcoin.’

In response to this controversial post shared by Okung, Peter McUnsignedInteger, the host of What Bitcoin Did, said he believed that applications and exchanges would be the Trojan horses. According to McUnsignedInteger, Tether on Tron, due to low fees in many jurisdictions, is the most in-demand. Moreover, according to the host, Binance is very influential because it is the exchange point.

After these words, McUnsignedInteger praised AQUA Wallet, stating that he looks very positively at AQUA Wallet and claims it is “the best application so far to merge Tether on Liquid with Bitcoin in UX”. AQUA Wallet defines itself as a “Simple non-custodial Bitcoin and Layer 2 wallet” and was founded by JAN3.

Another notable figure, JAN3 CEO Samson Mow, responded to the same post, saying it could be much better with Blockstream. Blockstream, a blockchain technology company led by Adam Back, is developing a range of products and services for the storage and transfer of Bitcoin and other digital assets.

Russell Okung’s concerns don’t end here; in another X post, he says, ‘A world where USDT is currently solving problems that BTC isn’t equipped to address,’ and adds:

It’s a reality that I’m reluctant to accept and one that I hope won’t persist indefinitely.

What a sobering thought.”

As USDT and stablecoins continue to stir debate within the community, the Bitcoin price managed to rise above $52,300 in the early hours of Monday. Bitcoin is currently trading at $52,310, with a gain of 1.2% in the last 24 hours. However, trading volume has dropped by 10%, falling below $20 billion.

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