Episode 103
Nate Maddrey (Coin Metrics) on the rise of stablecoins (EP.103)
On The Brink with Castle Island · Castle Island Ventures
July 20, 202045m 13s
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Show Notes
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