Stablecoin

Read

Billion

Coin

<ul class="wp-block-list news-points"> 
 <li>The total market cap of stablecoins surged by 0.48% in seven days since May 2022.</li> 
 <li>A surge in stablecoin valuation suggests an increase in liquidity across exchanges.</li> 
 <li>Tether USD is the most traded crypto with a volume of $51B, followed by Bitcoin and Ether.</li> 
</ul> 
The total market capitalization of stablecoins has surged to $173 billion, a level not seen since May 2022. This significant increase in stablecoin demand could foreshadow a pullback in Bitcoin’s price as investors accumulate liquidity and await a favorable entry point. 
According to <a href="https://defillama.com/stablecoins" target="_blank" rel="nofollow">data</a> from DefiLlama, the total market valuation of stablecoins rose by 0.48% in the past week, reaching a new high since May 2022. The sector is currently valued at $173.013 billion, with Tether USD (USDT) holding a dominant 69.27% share and a market capitalization of $119.6 billion. 
<a href="https://coinedition.com/brazils-crypto-soars-on-42-stablecoin-growth-and-institutional-influx/">Read also: Brazil’s Crypto Soars on 42% Stablecoin Growth And Institutional Influx</a> 
CoinMarketCap <a href="https://coinmarketcap.com/" target="_blank" rel="nofollow">data</a> shows that USDT is currently the highest-traded cryptocurrency in the industry, with a massive volume of $51 billion. Bitcoin (BTC) and Ether (ETH) are ranked second and third, with volumes of $27.5 billion and $14 billion, respectively.&nbsp; …
The post <a href="https://coinedition.com/stablecoin-market-cap-explodes-to-173-billion-is-this-bearish-for-bitcoin/">&nbsp;Stablecoin Market Cap Explodes to $173 Billion — Is This Bearish for Bitcoin?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Stablecoin Market Cap Explodes to $173 Billion — Is This Bearish for Bitcoin?

Coin Edition

Other articles published on Oct 14, 2024

MicroStrategy Stock Soars 1,620%! Outshines Bitcoin, S&P 500, and Tech Giants

Crypto.com Takes Legal Action Against SEC Over Wells Notice

Upgrade: GTBank extends opening time to 12pm today

Hedera's $HBAR Gains US Institutional Access with Launch of Canary Trust

$754 Million XRP in 24 Hours, What's Happening?

Blockchain Life 2024 in Dubai: A Legendary Gathering of Market Insiders Ahead of the Bull Run.

Join our free newsletter for daily crypto updates!