While BTC trading has dropped dramatically, stablecoin trading has soared and crossed the symbolic $ 444 million mark. Soaring The recent BTC crash has greatly benefited the stablecoin market. Driven by the high volatility of Bitcoin, investors are rushing to stablecoins, considered as stable financial assets and particularly invulnerable to the current economic crisis. “It seems that the growth in the supply of stablecoins has increased after the massive fall in Bitcoin (…)

Money continues to be poured into stablecoins as investors seek stability amid volatile price action “, The published Coin Metrics analysis said. The value of transfers in Stablecoin crosses the $ 444 million mark Driven by the great fluctuation of Bitcoin, exchanges in stablecoins reached an historic high by crossing the symbolic bar of 444.21 million dollars. The recent fall in Bitcoin has been profitable for Tether, whose market capitalization has increased sharply to reach an historic peak of $ 3.7 billion. The meteoric growth of USDC Since the coronavirus epidemic began to suffocate global markets, the use of Stablecoin has exploded.

For his part, the CEO of Binance, Catherine Coley maintains that financial exchanges should only go through stablecoins in this period of health crisis. "Because stablecoins can be distributed digitally, Americans would have immediate access to their funds, which would save them from spending hours at the bank cashing a check while evading imposed quarantine," said further. Catherine Coley. In recent times, the UDSC has become very popular with investors as "more and more consumers and institutions are turning to the USDC as a reliable way to weather the turmoil," according to Coinbase.