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Home News Altcoin News Stablecoins are up to $9 billion. The crypto-investors are terrified.

Stablecoins are up to $9 billion. The crypto-investors are terrified.

Why are Stablecoins, linked to stable reserves, becoming more and more important on the crypto market?

Stablecoins on the market

An analyst from “Coin Metrics” calculated that the value of all stablecoins in circulation exceeded $9 billion for the first time ever. What is extremely interesting is the fact that only 6 weeks ago the value of all stable cryptocurrencies was worth only $6 billion. This narrative shows that we are slowly entering the bull market.

stable coin price 9 billion dollars going up
f you keep up to date with the crypto scene and our blog, you probably know that in the last few weeks stablecoins are being created at a rapid pace. For example, Tether has recently minted 120 million USDT.

Why is USDT still growing?

According to Sam Bankman-Friend, the CEO of the stock exchange, crypto FTX and Bitcoin Alameda Research fund, the phenomenon of soaring USDT stock can be attributed to 3 main factors

  1. Asian investors acquire Tether en masse due to lack of access to the cryptic market.
  2. People sell crypto-assets for USDT to “hedge positions”
  3. People sell crypto-assets for USDT to “reduce risk”

bullish market is comming
Many analysts believe that the increasing value of Stablecoins is money prepared to be thrown into Bitcoin, Ethereum and other cryptos. This is not a fully consistent opinion, as some experts suggest that the increase in demand for Stablecoins may be due to the fact that crypto-investors are nervous about the current tense market situation and are simply not willing to buy BTC at the moment.

Bullish market

There are signs that ultimately demand on the sales side will turn into buying pressure. As Ryan Selkis, CEO of Messari, a crypto market analyst, explains: “Stablecoin is currently worth $3 billion on the stock exchanges.” In his opinion, the fact that stablecoins do not leave the stock exchanges is a sign that investors want to buy bitcoins. According to Selkis: “If investors wanted to cash in the crypto, he would withdraw funds to banks.”

 

Whatever the reason, the Stablecoin market is growing at a dangerous rate, and cryptovalutes like Bitcoin can only profit from it. Whether investors will start buying Bitcoins will most likely be seen around May 11th when the next halving is due to happen.

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