Stablecoin

Value

Giant

Billion

The total market cap of stablecoins rose above $164 billion, marking a significant milestone for the first time since the collapse of Terra in May 2022.
<h2 id="stablecoin-market-cap-rises-to-164-billion-after-months-of-recession">Stablecoin Market Cap Rises to $164 Billion After Months of Recession</h2>
This growth, reported by data sources DefiLlama and trading firm Wintermute, came after months of stagnation around $160 billion and signaled renewed capital flows into the crypto market.
Stablecoins, which are digital currencies pegged to external benchmarks such as the US dollar, are crucial to reducing market volatility.
They are widely used in a variety of crypto trading strategies, including fund purchases, derivatives trading, and strategies to generate returns through decentralized finance (DeFi). Additionally, stablecoins are also used for real-world payments and cross-border remittances.
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Tether's USDT, the leading dollar-pegged stablecoin, alone has a market cap of $114.26 billion. The rise in stablecoin market cap reflects growing investor optimism and signals a bullish outlook for the broader crypto market.
In a note shared by Wintermute, “The increase in stablecoin supply shows that money is being invested in on-chain ecosystems to create economic activity.
“This activity can directly drive price growth through on-chain purchases or increase market liquidity through yield generation strategies, ultimately driving positive on-chain growth,” he said.
Blockchain analysis firm Nansen echoed this sentiment in X, calling the stablecoin expansion a bullish sign.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/stablecoin-market-value-rising-after-months-of-recession-what-does-this-herald-here-are-the-details/" rel="noopener noreferrer nofollow">Stablecoin Market Value Rising After Months of Recession! What does this herald? Here are the Details</a>

Stablecoin Market Value Rising After Months of Recession! What does this herald? Here are the Details

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