Should ETN be a stablecoin?

While ETN should be relatively stable, it should NOT be a stablecoin. It wouldn’t make sense…

Since we are on the subject of stablecoins, I’ve been thinking a lot about all these stablecoins that’s being released. All of these stablecoins will compete against tether, and we know that a positive correlation exists between the market cap of tether and BTC. What happens when these stablecoins will take market share away from tether? How will that effect BTC? I believe that BTC will start going down in a few more months. It’s just a thought.

Stable coins need to be backed by reserves of money and/or collateral. ETN is simply not designed to be a stable coin and would take years to alter for that purpose.

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