Lin Han, founder and CEO of Gate, the world’s fourth-largest cryptocurrency exchange by daily trading volume, stated that banks have lost the competition against stablecoins. His remarks come amid the rising popularity of stablecoins and ongoing debates about their role in the financial system. Stablecoins are digital currencies pegged to stable assets like the US dollar or gold, designed to shield users from the volatility of the crypto market. Despite cautious or adversarial stances and stringent regulations from banks, stablecoins are rapidly gaining adoption, especially among individuals and institutions aiming to integrate cryptocurrency into everyday finance.
Lin Han also expressed that he now views Bitcoin’s traditional four-year cycle—marked by significant price surges every four years—as an outdated concept, noting that such patterns are less evident in the current market. This shift may prompt crypto investors to adopt new strategies. Gate Exchange has experienced rapid growth in recent years and is recognized globally as a reputable platform for crypto trading. Lin Han’s perspective reflects evolving trends within the crypto market and the increasing significance of digital assets in the financial world.
Looking ahead, it will be interesting to observe how banks and traditional financial institutions respond to stablecoins and other crypto assets, and how well they adapt to this new financial era. Additionally, changes in Bitcoin’s price patterns could influence investors’ future strategies.
Source: coindesk
