Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: Malam90 on January 29, 2021, 09:56:55 AM
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Stablecoins like Tether are flooding crypto exchanges again, potentially pointing at another upward move on crypto markets.
Amid renewed bullish action on cryptocurrency markets, stablecoins like Tether (USDT) are flooding exchanges to hit a new historical high in terms of allocation.
According to market data provider CryptoQuant, stablecoin holdings on global crypto exchanges broke a new all-time high on Jan. 28, surpassing $4.7 billion.
This amount makes up a significant part of the total stablecoin market capitalization, which is estimated at around $35.2 billion at the time of writing, according to data from CoinGecko. The total trading volume of all stablecoins is now evaluated at around $111 billion, with Tether (USDT) alone making up $103 billion of these volumes.
Alongside stablecoins' holdings on crypto exchanges hitting a new all-time high, the amount of inflow stablecoin transactions also appears to be growing at the time of writing. On Jan. 28, the number of inflow stablecoin transactions amounted to nearly 33,000 transactions, up from 30,000 transactions on Jan. 27.
Massive stablecoin inflows are often regarded as a short-term catalyst for Bitcoin, suggesting that sidelined capital is moving back into BTC. Specifically, fiat-pegged stablecoins like USDT are becoming an increasingly useful tool for traders to make deposits on crypto exchanges, allowing them to easily buy and sell millions of dollars worth of Bitcoin. As such, growing stablecoin allocations on crypto exchanges may be associated with increasing buying power.
As previously reported by Cointelegraph, the start of Bitcoin’s rally in October 2020 was driven by growing stablecoins’ inflows onto exchanges.
At publishing time, there is a notable upward trend on crypto markets, with the majority of the top-10 coins by market cap posting significant growth and Bitcoin returning above $32,000. Source Link (https://cointelegraph.com/news/stablecoin-holdings-on-crypto-exchanges-hit-a-new-all-time-high)
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I also really like trading using the USDT pair because it's more efficient, like sending a balance using the TRC20 network, it's free.
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The total volume of stable coins hit $111B where only USDT hits $26.35B. It's a new record which has surpassed the past all records. I don't know why stablecoin's supply are increasing without increasing the back up funds. The last 20 days marketcap not increased, rather it decreases but stablecoins' volume are on the way of sky.
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It would be great for Tether to continue to flood cryptocurrencies as this is proof for everyone that cryptocurrency is worth investing in for all currencies.
Fiat-USD-USDT-Cryptocurrency-Bitcoin-Altcoins and this is a series that all investors must go through to be able to trade with cryptocurrencies in all markets and this is very good for a stable coin future.
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It would be great for Tether to continue to flood cryptocurrencies as this is proof for everyone that cryptocurrency is worth investing in for all currencies.
Fiat-USD-USDT-Cryptocurrency-Bitcoin-Altcoins and this is a series that all investors must go through to be able to trade with cryptocurrencies in all markets and this is very good for a stable coin future.
At least this information has a beneficial effect on me, since I not only invest my capital in cryptocurrency, but also hold a significant part of my capital in USDT. I try to withdraw my assets from banking institutions to the maximum and transfer them to USDT. it gives me great confidence in the future.
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The total volume of stable coins hit $111B where only USDT hits $26.35B. It's a new record which has surpassed the past all records. I don't know why stablecoin's supply are increasing without increasing the back up funds. The last 20 days marketcap not increased, rather it decreases but stablecoins' volume are on the way of sky.
Actually this is also thinking matter that why stable coins hitting more than USDT. I think people are more positive at this time for crypto market and they are looking forwarded to stable coin as it has more consistency than usdt. I think at time being, People will try more investment on stable coin as its has bright future.
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It would be great for Tether to continue to flood cryptocurrencies as this is proof for everyone that cryptocurrency is worth investing in for all currencies.
Fiat-USD-USDT-Cryptocurrency-Bitcoin-Altcoins and this is a series that all investors must go through to be able to trade with cryptocurrencies in all markets and this is very good for a stable coin future.
At least this information has a beneficial effect on me, since I not only invest my capital in cryptocurrency, but also hold a significant part of my capital in USDT. I try to withdraw my assets from banking institutions to the maximum and transfer them to USDT. it gives me great confidence in the future.
Most of the crypto users use USDT either for trade or for transactions. USDT is now the top stablecoin which is 3-5th rank regularly on cmc rank.
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The proof that Bitcoin and all altcoins continue to rise in price is because the coin is stable and continues to increase its market cap and this will certainly raise all cryptocurrency markets.
I believe all of this will change the cryptocurrency market and all of them can also make things more crowded and stay away from the so-called Bearish market because Bearish markets are enemies for us all.
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It is very strong indeed from the stable coin community because it is able to continue to compete at the top level of Coinmarketcap.
Like the USDT which is always under the rank of Bitcoin and Ethereum because the function of USDT is to stabilize the price.
I'm sure the more money that is printed for USDT, the more Fiat will enter the world of cryptocurrency.
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When all cryptocurrencies reach their highest peaks then of course they all require a lot of Fiat to support all prices.
Bitcoin reached the latest All Time High so all of the Fiats have also collected a lot to buy Bitcoin in the entire cryptocurrency market.
Altcoins has reached the latest All Time High so it is certain that Fiat has a lot to support every price in the market.
So, it is only fitting that stable coins reach the All Time High market cap volume because indeed all cryptocurrencies have risen to reach All Time High.
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The more the creation of new parties, so let's say there is more variance to synchronize pairs
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Now that there has been a general drop in prices in the cryptocurrency market and the cryptocurrency has fallen by about half of its recent price records, a significant number of stablecoins should again accumulate on cryptocurrency exchanges. Many accumulate them, waiting for the bottom of the current fall in prices in order to successfully buy before the next wave of price growth. The advent of stablecoins has significantly added convenience to the use of cryptocurrency, although it still needs further improvement.
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I am very happy to see the marketcap of a stable coin to a very large coin in the cryptocurrency market because it is certain that if the assets of a stable coin are larger, the price of cryptocurrencies will rise slowly.
I also believe that this stable coin is a crutch for all altcoins because this stable coin can become something of value in cryptocurrencies when the market is down and red or Dump.