A CoinTelegraph report citing the latest research from two crypto research outlets Arcane Research and CryptoRank states that stablecoins are outpacing the rest of the crypto market, with a 6% gain over the past 30 days. . In times of market volatility, stablecoins can provide price stability with specific assets or algorithms.
Both research outlets confirm that stablecoin supply has crossed the $180 billion (approximately Rs 13.59 lakh crore) milestone. Research shows that in the month of February, three stablecoins accounted for 9% of the total market cap, including Tether (USDT), USD Coin (USDC) and BUSD. These three stablecoins have entered the top 10 coins by market cap.
Furthermore, Arcane Research says that while USDT, the largest stablecoin with 44% market share, remained stable over the past year, USDC is headed for a 20% increase in 2022.
Another report from CoinTelegraph reported that there was good news for Tether, the largest stablecoin by market cap, on Wednesday, where Tether reduced its exposure to commercial paper by 21% in its latest reserve verification Is. Additionally, the report states that Tether’s “consolidated assets exceed its consolidated liabilities.”<!–
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