Meanwhile, Bitcoin is showing almost 2% growth, which is most likely associated with the inflow of money capital.
The capitalization of the largest stablecoin asset in the market, Tether (USDT), has again renewed its all-time high, soaring to $ 12 billion.
Another capital inflow has become the largest in the history of a stablecoin issuer.
"Since March 2020, Tether's market capitalization has increased from $ 5 billion to 140%, maintaining its leadership as the most liquid and reliable stablecoin," Tether said.
One of the triggers of such a sharp increase in capitalization may be the release of USDT stablecoins for the TRON blockchain, as well as additional tokens based on the ERC20 protocol.
At the time of writing, TRON has almost $ 4 billion in USDT stablecoins.
At the same time, almost half of all stablecoins on the TRC20 protocol account for only one address, which, according to TRON founder Justin Sun, is a hardware wallet of the Binance cryptocurrency exchange.
Gold is out of interest
The lack of interest of the cryptocurrency market in the digital version of gold may be due to a difficult threshold for entry (XAU торг trades are currently only carried out on Bitfinex and FTX), as well as unattractiveness, given that gold is now at historic highs.
Earlier, Nick Carter, co-founder of the analytical blockchain agency Coin Metrics, said that if USDT continues to grow, stablecoin "will be able to single-handedly overtake Bitcoin [in terms of average daily transaction value] in a couple of months."
The price of popularity
However, along with the growth in the use of USDT, the commission costs in the Ethereum network are also growing, which recently also renewed their historical maximum.
So, the founder and CEO of Synthetix, Kane Warwick, previously noted that high commissions negatively affect the growth of the decentralized finance (DeFi) market.
“Over the past three months, we have moved from an environment in which DeFi was expensive and a little slow to use today, where it is prohibitively expensive for many people,” he said.
