Tracking stablecoin supplies can reveal fascinating liquidity trends in the cryptocurrency market. As primary trading pairs, they reflect the pulse of capital flow. 2022 observed a riveting ebb and flow, where top stablecoins cap dipped early in the year, only to rise intriguingly in Q4. Tether (USDT) particularly experienced a soaring increase, hinting at possibly profound market shifts. This upturn coincides with Bitcoin's price movements, suggesting a correlation that could redefine our understanding of market liquidityโs role in crypto valuation. Uncover the underlying dynamics of this resurgence and its broader implications for the crypto ecosystem with CryptoSlate Alpha.
End-of-year stablecoin cap rally mirrors Bitcoin’s price uptick End-of-year stablecoin cap rally mirrors Bitcoin’s price uptick
The total stablecoin market cap saw a strong recovery in Q4, hinting at an infusion of liquidity into Bitcoin.
2 min read
Updated: Dec. 29, 2023 at 2:06 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Tether
$1.00099
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner.
USD Coin
$0.99984
USD Coin (USDC) is a stablecoin fully backed by the US dollar and developed by the CENTRE consortium.
Binance USD
$1.00159
BUSD is a stablecoin issued by Paxos in partnership with Binance..
Dai
$1.00055
Dai (DAI) is a cryptocurrency token and operates on the Ethereum platform.