The stablecoin emission index renewed its maximum, reaching $ 20 billion by the end of last week. The upward trend was driven by an increase in demand for two assets: USDT and USDC. In addition, the strong growth in investor interest in cryptocurrency derivatives has had a positive effect on the strengthening of the stablecoin sector, since some platforms have declared making deposits using such tokens as a mandatory condition.
Thus, the head of Circle Jeremy Allair noted that such assets benefit both when the rate rises and falls. “When global markets are in trouble, demand for USDC rises as people seek to get out of risky assets and keep their finances stable, with users often holding USDC as they intend to continue to be active market participants in the future,” he commented on the interest of participants market.
We add that the issue of stablecoins at the beginning of this year was only $ 5 million.
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