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 <p class="is-style-lead">In November 2023, the capitalization of the <a rel="dofollow" title="stable" href="https://thebittimes.com/tag/stable.html">stable</a>coin <a rel="dofollow" title="sector" href="https://thebittimes.com/tag/sector.html">sector</a> grew by 3% – from $120 billion to $124.05 billion.</p> 
 <p>According to the Coin Metrics report, such indicators could indicate a steady flow of capital into the market.</p> 
 <p>As can be seen in the graph, this is the first sustained upward jump in the indicator since April-May 2022. For the most part, the positive dynamics are due to the increase in USDT capitalization – by more than $7 billion since mid-August 2023.</p> 
 <figure class="wp-block-image size-large">
  <picture decoding="async" class="wp-image-14224199"> 
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/12/06/b9e14d4e6024ad0545b8499536035853.webp.webp"> 
   <img decoding="async" width="1024" height="606" src="https://cdn.thebittimes.com/images/2023/12/06/b9e14d4e6024ad0545b8499536035853.webp" alt="Experts reveal tepid changes to stablecoin sector in November - 1"> 
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   Source: Coin Metrics
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 <p>At the same time, not only the capitalization of the asset increased, but also the number of its large holders, Coin Metrics notes.</p> 
 <p>The number of addresses holding more than $100,000 in USDT has increased sharply on the Tron network and remains relatively <a rel="dofollow" title="stable" href="https://thebittimes.com/tag/stable.html">stable</a> on Ethereum. The same cannot be said about USDC, a direct competitor of USDT, the report emphasizes.</p> 
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  <picture loading="lazy" decoding="async" class="wp-image-14224200"> 
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/12/06/abfc1397db2934553301473e37d82eeb.webp.webp"> 
   <img loading="lazy" decoding="async" width="1024" height="605" src="https://cdn.thebittimes.com/images/2023/12/06/abfc1397db2934553301473e37d82eeb.webp" alt="Experts reveal tepid changes to stablecoin sector in November - 2"> 
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  <figcaption class="wp-element-caption">
   Source: Coin Metrics
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 </figure> 
 <p>In addition, Coin Metrics highlighted the increase in spot trading volume in <a rel="dofollow" title="stable" href="https://thebittimes.com/tag/stable.html">stable</a>coins. According to experts, this is due to their ability to serve as a “benchmark” for valuing other assets.</p> 
 <p>However, the Bank for International Settlements studied 86 stablecoins and concluded that none of them could permanently remain pegged to the dollar or be used as a means of payment in the real economy.</p> 
 <p>Analysts also emphasize that information about the reserves of stablecoin issuers is often not audited by authorized organizations. Because of this, it is impossible to be sure that the issuing companies have the declared reserves on their balance sheets.</p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/experts-reveal-tepid-changes-to-stablecoin-sector-in-november-tbt72809.html">https://thebittimes.com/experts-reveal-tepid-changes-to-stablecoin-sector-in-november-tbt72809.html</a></p>

Experts reveal tepid changes to stablecoin sector in November

TheBitTimes

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