Trump has come into office with a wrecking ball – and his acts of unpredictability, both domestically and abroad, have only hampered the dollar’s status as the choice reserve currency. In the crypto world, this only means one thing – USD-pegged stablecoins will wane in dominance, leaving a vacuum for other currencies to pounce. And of them, it might just be the rapidly growing EUR coins that muscle up the hardest.

Let’s take a step back. Since Trump’s inauguration, the dollar has fallen to a three-year low against a basket of major currencies, declining by approximately 5% over roughly the last six months. A combination of whimsical trade policy, feckless fiscal bets, and, overall, international antagonism have beleaguered the U.S. market, damning its equities, raising its Treasury yields, and taking an axe to the dollar. The U.S.’s prominence as the strongest and most stable economy has been tested. And we’ve even seen an “Anywhere, but the USA” trade come to light as a result.