Stablecoins Boost Crypto Market Recovery and Future Growth

Share on Facebook Share on Twitter

The Importance of Stablecoins for the Future of the Crypto Market

Stablecoins play a crucial role in the recovery of the crypto market. Prior to the recent crypto market rally in late October, about 3.54% of the circulating supply of stablecoin USDT were deposited on exchanges.

The end of the year in full bloom

The global market capitalization has increased by 34% since mid-October, which corresponds to an increase of nearly 360 billion dollars to the current time. With rising valuations, the market’s trading activity experienced a strong turnaround. The daily volumes were on average close to 50 billion dollars in the last month, a welcome change to the 25 to 30 billion dollars that were recorded in the last two quarters.

Stablecoins as a key to market recovery?

The on-chain analysis firm Santiment pointed out key developments that could have strongly supported the ongoing rally. In the period from August 19th to October 16th, about 3.54% of the circulating supply of the stablecoin Tether [USDT] were deposited on exchanges. In absolute numbers, this corresponds to a flight of more than 3 billion USDT tokens.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

In addition, about 0.72% of the total supply of USD Coin [USDC] was introduced to exchanges at the same time. Such large inflows typically act as bullish signals for the market. This is because investors who send stablecoins are likely to do so to buy other cryptocurrencies.

As is well known, stablecoins are the primary method for traders on non-fiat crypto exchanges to enter and exit trades. Stablecoins allow traders to retain their fiat value without leaving the blockchain and exiting. Therefore, increases in stablecoin deposits are a precursor to strong trading activities in the market.

The development of stablecoins

The circulating supply of ERC-20 stablecoins has experienced a notable increase in the last two weeks. A continued increase in the market capitalization of stablecoins would support the notion of a market recovery.

Stablecoins are crucial for the future of the crypto market. They provide a stable currency in an otherwise volatile crypto world and allow traders to retain their fiat values without leaving the blockchain.

Sources: AMBCrypto, CoinMarketCap, Santiment, CryptoQuant

Share on Facebook Share on Twitter

The 3 best cryptocasinos

Up to 1 BTC + 100 Free Spins
First Deposit Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Bets.io review
Cryptocurrencies (12)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Bets.io review

Bonus information

Bonus code: BETSFTD
Wagering requirements: 40x the bonus amount
40x the winnings from free spins
Minimum deposit: 20 USDT or equivalent
Bonus validity: 14 days
  • Maximum bet per round while wagering: 2 USDT – 0.000066 BTC , 0.01 BCH, 0.0011 ETH, 0.02 LTC, 40 DOGE, 2.8 XRP, 25 TRX, 6.6 ADA, 0.008 BNB, 2 BUSD, 2 DAI, 2 EUR – 2 USD.
  • Bonus must be used within 30 days of registration.
Why we like this casino

Bets.io is an impressive crypto casino that boasts a variety of games and renowned software providers. The website is easy to use and offers a wide selection of games, which makes the gaming experience particularly enjoyable. Furthermore, the customer service is available 24/7. They are highly competent, ensuring a reliable and trustworthy service.

Last update by Isabella Brown (iGaming expert for > 10 years) on 1. March 2024
Curaçao
Licence
100% up to 1 BTC
Welcome Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Metaspins review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • usd-coin-logo
Metaspins review

Bonus information

Wagering requirements: 25x deposit & bonus
Minimum deposit: 0,1 mBTC
Bonus validity period: 7 days
  • Bonus & deposit must be wagered 25x
  • Max amounts: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
  • 7 days to wager
  • Minimum deposit: 0.1 mBTC
  • Slots 100%, game shows 50%, other 0%
Why we like this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Last update: 1. March 2024
100% up to 1 BTC + 100 Free Spins
Welcome bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Empire.io review
Cryptocurrencies (9)
  • Bitcoin Logo
  • Ethereum Logo
  • Litecoin Casino
Empire.io review

Bonus information

Bonus Code KC100
Wagering requirements Bonus must be wagered 40x
Winnings from free spins must be wagered 40x
Minimum deposit 30 USDT or equivalent
Maximum bet €5 per round
Bonus currency Only with BTC and USDT deposit
  • The free spins are given on Sweet Bonanza.
  • VERY IMPORTANT: The bonus is only available when depositing with these methods: BTC & USDT.
  • To take advantage of the offer, change your wallet to mBTC (μBTC) or USDT and activate the bonus by clicking on “Redeem Bonus” and entering the bonus code.
  • Only the first deposit counts for the bonus.
Why we like this casino

We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.

Last update by Isabella Brown (Nerd of Numbers) on 1. March 2024
Curaçao
Licence

Latest News

🍪
We use cookies. By using this site, you accept them.