Share this article
Are Stablecoins Eurodollars 2.0? Long Reads Sunday
Long Reads Sunday features two essays previously published on CoinDesk that show the trajectory of stablecoins in the global economy in 2020.
Updated Sep 14, 2021, 9:32 a.m. Published Jul 19, 2020, 6:00 p.m.
Long Reads Sunday features two essays previously published on CoinDesk that show the trajectory of stablecoins in the global economy in 2020.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Bitstamp and Crypto.com.
On this week’s Long Reads Sunday, we look at two essays about stablecoins previously published on CoinDesk.
The first is called “USD Stablecoins Are Surging, but Zero Interest Rates Complicate Business Model” by Hasu and was one of the first pieces to recognize that demand was coming not just from the crypto space but from emerging markets facing crisis-time currency pressures.
See also: What If the Too-Strong Dollar Is a Solved Problem? Feat. Jon Turek
The second is “Hyper-Stablecoinization: From Eurodollars to Crypto-Dollars” from Pascal Hügli. The piece argues that stablecoins are likely to play an increasingly important role in the global economy. In effect, they are a better version of the critical eurodollar system.
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Dogecoin loses $0.13 floor as derivatives positioning signals bigger swings ahead
The $0.13 level is crucial; if Dogecoin can reclaim it, a short-covering bounce is possible, but failure may lead to further declines.
What to know:
- Dogecoin fell below the $0.13 level amid heavy spot selling and increased derivatives activity, indicating traders expect more volatility.
- Futures volume for Dogecoin surged 53,000% to $260 million, reflecting rising volatility expectations despite a weakening spot price.
- The $0.13 level is crucial; if Dogecoin can reclaim it, a short-covering bounce is possible, but failure may lead to further declines.
Top Stories
