Stablecoins are something that everyone sees as very promising, but profits are often far removed from everyone. Regardless of how glamorous they may appear, the measure of their fundamental business is always the issuance volume, which is their foundation.

As various players rush into the stablecoin market, it is destined to become a commoditized product. Ironically, 'commoditization' seems to me a pejorative term, often implying a greater need to focus on use cases, thereby increasing your issuance volume and subsequently enhancing corporate profits.

At this stage, positioning in the channel of use cases may be more important. Having ample resources in advance helps in enhancing market capitalization, which contributes to a reflexive effect, increasing people's confidence in holding.

$ENA