Wednesday, January 15

Tag: quote currency

Stablecoins Become the Preferred Quote Currency in Recent Market Trends: Glassnode

Stablecoins Become the Preferred Quote Currency in Recent Market Trends: Glassnode

Business
In 2023, digital properties experienced a remarkable year, experiencing an amazing rise in Bitcoin rates by over 172%, with a correction of less than 20%. In addition to Bitcoin and Ether, capital inflows in stablecoins likewise stayed favorable. The marketplace went beyond vital technical and on-chain rates designs, and October became a turning point for institutional capital motion, according to Glassnode's current analysis. Over the last 2 years, the marketplace capitalization of international stablecoins has actually gone beyond $100 billion, and USDT's market cap alone has actually represented over $90 billion. The development is mostly moved by their usage in applications associated to decentralized financing (DeFi), trading, and liquidity management. Regardless of being stuck in de...