Dollar-pegged stablecoins will eventually lose their price tickers, as exchanges abstract away the differently denominated stable tokens on the backend, presenting only a “USD” option to the user, according to Mert Mumtaz, CEO of remote procedure call (RPC) node provider Helius.
The data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/hyperliquid-usdh-bidding-ethena-enters-contender” title=”null”>bidding war for the Hyperliquid USD stablecoin (USDH), and proposals from several firms promising to give 100% of the yield back to Hyperliquid, revealed that the stablecoin sector has become “commoditized,” Mumtaz data-ct-non-breakable=”null” href=”https://x.com/0xMert_/status/1966922415163785680″ rel=”noopener nofollow” target=”_blank” title=”null”>said.
Mumtaz added that he expects many…

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