Are traders shifting from Stablecoins to Bitcoin ?

27 Oct, 2018
by Manon Bridou-Koenig
Are traders shifting from Stablecoins to Bitcoin ?

Stablecoins are flooding the market, but recent data from October suggests that Bitcoin might become the One True Stablecoin.

In a recent study, from blockchain research group Diar, we can see that while Tether still accounts for an overwhelming majority of the total stablecoin volume, Cryptocurrency Traders are currently starting to exchange with Bitcoin directly, rather than use new, regulated alternatives.

Diar notes :

"Traders have now become more amenable to the volatility of Bitcoin rather than risk holding Tether” 

“Trading volume of USDT pairs have dropped by a whopping 25 percent from the 15 October “peak crisis” and 17 percent down from the start of the month on Binance.”

The overall trading volume of Tether markets is getting smaller, but the activity of Bitcoin markets has increased between 8 and 10 percent on cryptocurrency exchange OKEx, one of the largest in the world.

Read more about current Tether market: "Tether burns over half of its total supply; 500 million USDT "redeemed"

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