Stablecoin

Momentum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/stablecoin-market-rallies-with-record-high-usdt-valuation" rel="noopener noreferrer nofollow">Stablecoin Market Rallies with Record High USDT Valuation</a><br></p>
<p style="text-align: justify">The stablecoin sector within the cryptocurrency market is indicating a potential turnaround after a period of decline, with Tether’s <a href="https://en.bitcoinhaber.net/stablecoin-giant-tether-bolsters-bitcoin-reserves-amid-market-uncertainty" rel="noopener noreferrer nofollow">USDT</a> leading the way. Recent data from IntoTheBlock reveals that the market value of stablecoins, which had been on a downward trend through 2022 and into October 2023, is now experiencing a resurgence. This resurgence is marked by an over $9 billion increase in market value, hinting at a possible bullish phase akin to the boom seen in 2021. USDT, in particular, has been instrumental in this growth, achieving a new high in market value.</p>
<h2 id="stablecoins-gain-momentum">Stablecoins Gain Momentum</h2>
<p style="text-align: justify">The data shows that USDT’s value soared to about $94 billion and has since exceeded this figure, reaching beyond $96 billion. Concurrently, the supply of USDT held on exchanges has been steadily climbing from November 2023, suggesting heightened market participation and interest. By late November, this supply had reached approximately $9.4 billion.</p>
<h2 id="usdt-exchange-supply-indicates-demand-uptick">USDT Exchange Supply Indicates Demand Uptick</h2>
<p style="text-align: justify">Currently, the amount of USDT on exchanges has surpassed $13 billion, indicating a significant inflow of roughly $4 billion, mirroring an uptick in activity and demand for USDT. Furthermore, the overall cryptocurrency market has followed a recovery trajectory starting around October 2023, staging a comeback from the preceding year’s decline. The total market value has risen from about $1 trillion to over $1.6 trillion, signaling increased investor engagement and positive market sentiment. This influx of stablecoins and the subsequent investor readiness to re-engage in the market are key to the continuing recovery in market valuations.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/stablecoin-market-rallies-with-record-high-usdt-valuation" rel="noopener noreferrer nofollow">Stablecoin Market Rallies with Record High USDT Valuation</a></h5>

Stablecoin Market Rallies with Record High USDT Valuation

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