Yes it is. You can trade them on decentralized exchanges. You can stake them some places for small percentages. You can pair them with other coins in liquidity pools and/or farm for larger percentages but it’s riskier
That is possible where you can stake or whatever you decided to do and stablecoins have other uses like when you have crypto such as Bitcoin. Example, let's say that Bitcoin's price is at $60k and it show a sign that it is decreasing where you have 1 BTC valued at $60k so, in order to keep the value the same then the best choice you have is to buy stablecoins then you still have $60k ( I know the value won't be the same because exchange sites have conversion/trading fee when you are buying or selling crypto using their platform.
It's easy to say now, knowing what it was in the past and that you had to sell bitcoin at 60k to buy now at 16k, but at the time few people did as you said. You probably didn't do it yourself either, because you didn't know that such a big drop would happen in the future. But now I can guess that buying bitcoins would be more efficient than just holding stablecoins.
