Which Cryptocurrencies Could Benefit from the Explosion in Stablecoins?
News Publisher Aug 29, 2025 12:26
The progress made by stablecoins has been one of the most attention-grabbing parts of the crypto market in the last few months.
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Alt text. A man holds a Tether token and looks at the virtual network for sending stablecoins
The progress made by stablecoins has been one of the most attention-grabbing parts of the crypto market in the last few months. With numerous companies and countries considering launching their own pegged tokens, the big question we all want to know the answer to is which coins are going to see their value boosted thanks to this explosion.
Ethereum Is Home to Most Stablecoins
It could be argued that the recent surge in value that Ethereum has enjoyed is at least partly based on the growth of the stablecoin market. According to JP Morgan, Ethereum’s value should continue to rise in line with this trend, since most stablecoins are hosted directly on this network or its L2s.
This isn’t the only use case for Ethereum and its ETH token, since it can be used for creating smart contracts, DeFi lending, and apps. This token can also be used to pay for goods and services at sites like Newegg and Shopify.
It’s also one of the tokens accepted in this crypto casino, alongside the likes of Bitcoin, Litecoin, and Tether. This means that players simply send their ETH from a self-custody wallet to the casino’s wallet. This is an example of where the speed and safety of Ethereum is clear, as the money that is sent arrives almost instantly. When someone wants to take out their winnings, this can also be sent as ETH to their wallet, adding speed and security to this process too.
In this way, Ethereum can be used to play gambling games at a crypto casino, including slots and poker, without relying on any traditional banking methods such as credit cards and bank transfers. This adds an extra layer of privacy to the transaction, which fits well with gambling and other industries. In addition, the Tether currency listed by the casino is on the Ethereum blockchain as an ERC20 token. It’s pretty easy to see, therefore, that this cryptocurrency has been thoroughly blended into the casino world, offering players across the globe new utility as they enjoy their favorite games.
Conflux Could Launch a Yuan-Backed Stablecoin
Another token that’s enjoyed a price boost in the last few months, Conflux (CFX) rose to prominence when it was mentioned in 2024 as being the network where the Chinese government chose to launch its public Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road Initiative chain. This was particularly impressive since China has often shown a hostile attitude towards cryptocurrencies in the past.
More recently, the news that China is working with Conflux on a stablecoin that will be pegged to the yuan has raised even more eyebrows. When this news leaked out, the CFX coin doubled in value in a single day, and its total market capitalization passed $1 billion comfortably. The latest news reports suggest that China is planning to expand yuan-backed stablecoins internationally, which could prove a huge boost for Conflux.
Ripple Has Its Own Stablecoin
The launch of Ripple’s RLUSD stablecoin at the end of 2024 caused a splash, since the company’s XRP ledger and token have been leading the way in international payments technology. It isn't yet clear what impact this will have on the price of the XRP token, but a growing ecosystem is only likely to be a good thing for it.
Quant Is Joining Forces with the EU
The European Union (EU) is also keen to launch its stablecoins and a digital euro. Quantum revealed earlier this year that the European Central Bank selected them - alongside other companies - to start working on the project to bring the euro onto the blockchain. This news boosted the QNT token, although it isn’t yet clear how big their role in the EU project will be. The Quant website confirms their commitment to commercial stablecoins, although it’s not known whether they’re also working on euro-backed stablecoins right now.
Other Tokens Could Benefit from This Trend
Some analysts believe that the growth of stablecoins will prove to be a boost for the entire crypto industry, since it means that more money will enter these networks one way or another. This could provide an easy on-ramp and off-ramp for anyone who decides to buy a token like Bitcoin or Dogecoin.
It’s also extremely likely that other countries and companies will announce tie-ins with leading crypto networks to create their own stablecoins on a trusted blockchain. It’s certainly one of the areas that anyone interested in the crypto market will be keeping a close eye on in the next few months and years.
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