TradeFi advisers want stablecoins, tokenization over Bitcoin: Bitwise

[Oshosondy]

Is this not funny? Bitwise said TraeFi advisors. TradeFi advisors will likely prefer RWA tokens which are also stable coins because the tokens prices are pegged with traditional assets which simply means they are under the stable coin category, not only fiat pegged stable coins are the only stable coins.

If you want to read the news, this is it: https://cointelegraph.com/news/tradfi-advisors-want-stablecoins-tokenization-over-bitcoin-bitwise

This thread is about what could be the fate of bitcoin if comparing all the stable coins with other cryptocurrencies. Did you know recently that the bitcoin dominance that fell from over 60% to 58.34% recently is not as a result of unstable coins? Ethereum and other coins likely even fall in dominance as ethereum fall below 10%, but the stable coins are the main reason for the market dominance percentage fall.

I think bitcoin is having new challenger which are the more types of stable coins getting into cryptocurrencies. Note that I am not only referring to fiat stable coins but also referring to other stable coins like those pegged with gold, silver, other precious metals, metals, stocks, oil and others included.

I am not saying they are threats to bitcoin dominance now, but can they be a threat for bitcoin dominance in the future?

[Alpha Marine]

It's not the first time Bitcoin's dominance has dropped to 58%. It has dropped to 55% before.
If I remember correctly, during the ICO era of altcoins, Bitcoin dropped to below 40% in 2018 or so. After a while, it got back up to 50% and 60%.
We are in a bear market, so it's not particularly surprising to see bitcoin's market dominance drop by 2-3%, especially when you consider the fact that a lot of other projects, including RWA, are being launched and hyped.

Time corrects everything. If the projects are actually worth it, then they will remain and be relevant no matter what happens, but if they are not, there will be a correction. I won't be surprised to see a correction of this immediately, as the bull market starts.

I don't expect Bitcoin's dominance to remain above 50% forever. More money will go into various projects as time goes on, but they won't be a threat to Bitcoin because no matter what happens, Bitcoin will always be the most dominant coin in the market.

Also, the market cap of a lot of projects is overestimated. They just have billions of coins in circulation with shitty prices, but a high market cap simply because they have hundreds of billions of coins in circulation.

[Perfectbaby]

Also, the market cap of a lot of projects is overestimated. They just have billions of coins in circulation with shitty prices, but a high market cap simply because they have hundreds of billions of coins in circulation.

The Main reason why Bitcoin dominance keeps reducing is a cause of the market changes and I do not even also surprised that USDT has taken the second position on the market due to much dump on the those prices. If someone invested in time or at 63k before it increases back to around 78k there are people who wouldn't want to watch their investments fall to zero because they don't trust the market, what they would do is to either dump whatever coin they are holding to buy USDT to secure how quickly their investments could lose value. During bear market lot of do not like holding shit coin on their portfolio instead they would dump it and hold back stable coin on their possession, this is the reason why it seems that USDT dominance is higher and Bitcoin is decreasing.

[Satofan44]

This thread is about what could be the fate of bitcoin if comparing all the stable coins with other cryptocurrencies. Did you know recently that the bitcoin dominance that fell from over 60% to 58.34% recently is not as a result of unstable coins? Ethereum and other coins likely even fall in dominance as ethereum fall below 10%, but the stable coins are the main reason for the market dominance percentage fall.

I think bitcoin is having new challenger which are the more types of stable coins getting into cryptocurrencies. Note that I am not only referring to fiat stable coins but also referring to other stable coins like those pegged with gold, silver, other precious metals, metals, stocks, oil and others included.

I am not saying they are threats to bitcoin dominance now, but can they be a threat for bitcoin dominance in the future?

An apple is not a competitor to a potato. So stop imaging false challenges simply because someone wrote an useless article that does not mean anything. Of course fucking traditional advisers would prefer tokenization over Bitcoin, what else would they do? Do you think that the world had a mindset change where most people are red-pilled and now suddenly there is a better "competitor" so they are choosing the competitor over Bitcoin? In most cases traditional advisers will advise and recommend things that they are familiar with, especially things that are connected to traditional instruments.
The Bitcoin dominance is a meaningless metric, stop quoting it and learn your lesson. Every single piece of shit is listed in the same category as Bitcoin, things that have nothing to do with Bitcoin. The Bitcoin dominance index is like having a market share analysis where you say that Apple is stealing car market share from Tesla right now. What the actual fuck would that even mean?  Things that don't compete with Bitcoin and have nothing to do with Bitcoin but are negatively impacting Bitcoin dominance:

• Scams like Ripple.
• Stablecoins of every kind.
• Centralized coins and tokens of every kind.
• Platform-focused tokens, Uniswap, Gate and such.
• Countless over-inflated marketcap coins and tokens with low liquidity.

The real dominance of Bitcoin has been consistently over 90% since forever. Learn this lesson already for fuck sake, you have not joined here 10 days ago.