Ki Young Ju, CEO of CryptoQuant, said on Twitter that about $ 2 billion worth of StableCoins had been exchanged in recent days.
to the Report YouTube, the volume of stable coins on current exchanges has reached a new historical peak. According to cryptocurrency statistics, something like $ 19.22 billion in stable coins are held in exchange offices.
Joe believes that given this volume of stable coins, one can expect a jump in the Bitcoin, Ethereum and digital currency markets. In another part of its statistics, Cryptocurrency claims that $ 1.7 billion worth of StableCoin has recently entered the exchanges.
As you know, stable coins are one of the trading tools for investing and we may see this amount of capital entering digital currency markets such as Bitcoin, Ethereum and Cardano. With the entry of these investments into the market of other currencies, there is a possibility of increasing their prices.
The CEO of Cryptocurrency also hypothesizes that the arrival of this volume of stable coins may be a sign of a sharp fall in the market in the short term; Because traders may be looking to make a profit before the big market crash.
At the end of January, there were only $ 4.19 billion in stable coins in exchange offices. The current volume of $ 19.22 billion indicates a jump of about five times this amount.
The USD Coin is currently the largest regulated stable coin on the market. The digital currency has a market capitalization of more than $ 27 billion, according to Coin Market Cap. Teter, meanwhile, has more than double the size of the US Quinn. Tetra is currently valued at $ 65 billion.
Usain Quinn is supported in four blocks: Ethereum, Algrand, Theron and Solana. Traders can trade Tetra in the Ethereum, Theron, Omni, Ias, Liquid, Algrand, SLP and Solana blockchain blocks.