What Are Stablecoins and How Do They Relate to Fungibility?
Stablecoins are a class of cryptocurrencies designed to minimize price volatility, typically by being pegged to a "stable" asset like the US dollar. Since one unit of a specific stablecoin (e.g.
USDC or DAI) is intended to be exactly equal to any other unit, they are highly fungible. This fungibility is essential for their role as a medium of exchange and a stable store of value in the volatile crypto market.