Crypto: Stablecoins Surge by $1.53 billion in 3 Days! Tether Leads
The world of crypto never ceases to surprise us. In recent days, we have witnessed a spectacular rebound in the market. At the heart of this excitement, the stablecoin economy has experienced a stellar growth of 1.53 billion dollars in just 3 days.
The resurgence of the crypto market
The crypto market has just undergone a turbulent week. After a period of turbulence, the main digital assets have regained their shine. Bitcoin, for example, has crossed the symbolic threshold of $60,000, soaring by 6% in the last 24 hours. This increase has pulled the entire crypto market in its wake. As a result, we observe an overall growth of 5% in the last 24 hours.
This rebound has not gone unnoticed. Investors, long on the defensive, are regaining confidence. This positive dynamic fuels the entire crypto ecosystem. Thus, we are witnessing a renewed interest in various projects and tokens.
The stellar rise of stablecoins
In this recovery context, stablecoins are standing out. Indeed, the stablecoin economy has seen an impressive growth of 1.53 billion dollars in just 3 days. More remarkably, 750 million dollars of this growth materialized in the last 24 hours.
Tether (USDT) stands out particularly in this dynamic. The undisputed leader of stablecoins saw its market capitalization increase by 1.26 billion dollars. Today, USDT represents 5.45% of the total crypto market capitalization. This performance underscores the growing importance of stablecoins in the crypto ecosystem.
Other stablecoins have also benefited from this upward trend. GHO, USDC, PYUSD, and USDM have all recorded steady increases, albeit more modest. This diversification of the stablecoin landscape attests to the growing maturity of the crypto sector.
The stablecoin economy is experiencing unprecedented growth. This trend reflects the renewed confidence of investors in the crypto market. As the sector continues to evolve, stablecoins are asserting themselves as a crucial pillar of the crypto ecosystem. This is why Switzerland has recently taken drastic measures against them, as they could be used to finance illicit activities.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.