Stablecoin Market Surpasses $150B, a First in 18 Months, After $980M Growth in 5

[sirty143]

Stablecoin Market Surpasses $150B, a First in 18 Months, After $980M Growth in 5 Days

The stablecoin sector achieved a significant milestone on March 20, 2024, hitting the $150 billion mark as the dollar-anchored market continues its expansion. In the last five days, the stablecoin sphere expanded by $980 million... See more for yourself here.

Your opinion is greatly appreciated.

[KingsDen]

Stablecoin Market Surpasses $150B, a First in 18 Months, After $980M Growth in 5 Days

The stablecoin sector achieved a significant milestone on March 20, 2024, hitting the $150 billion mark as the dollar-anchored market continues its expansion. In the last five days, the stablecoin sphere expanded by $980 million... See more for yourself here.

Your opinion is greatly appreciated.

What does this significant increase mean;

• Growth in adoption of crypto
• More people converting assets to stable coin
• US citizens prefering stable coins to their native dollar

I would want to know...

[Faisal2202]

That's a hell lot of money, I mean $150 billion this means these stable currencies must have real-world assets pegged to these stable currencies, I do have doubts about USDT, and AFAIK they also released a big amount of USDT a few days ago. The crypto market is highly attractive market now a day, every type of person is into crypto. Investing their funds to make some profits.

That's why there is a huge demand for stable currencies in the market as well, but I doubt that is this is just a bubble and these stable currencies will not have enough funds to back their assets. Things might get bumpy for these newcomers. Although this indicates a developing environment for the crypto sphere. 

[Captain Corporate]

This scares me a lot, USDT alone is 100+ billion dollars, which means that the moment they crash, like anything happens to the company, then they are going to end up with a lot of trouble, and yet the market will crash and cause even bigger trouble. Imagine 100 billion dollars vanishing from the market overnight, with just one news, and everyone is told that their USDT is now worth zero. Even Luna, something much smaller, caused the price to crash so hard, if this happens I fear that crypto will have a problem that would take years and years to recover, even if we could manage to ever recover.

[bhadz]

I am expecting that there will be a surge for that because of the US economy and the continuous printing of it by the FED and Tether. While many are going to cash their profits into stablecoins and will just play it out in the market waiting for some dip then will proceed in buying back. That's why there's a need for the need of the stable coins. Honestly, before I am not fond of using it but after understanding the use of it into buying/selling, it's convenient to it but I wouldn't keep my wealth on any of it like holding bitcoin.