Stable coins provide necessary safe haven to traders and investors in times of turbulence. It is natural to expect that volume and demand of stable coins will increase in such times.
You can follow stable coins stats on CryptoSlate.
We have been watching this space and do see that in last two days volume for stable coins has gone up from 12.5bn$ to 17.25 bn$.
Except tether all other stable coins have appreciated. Tether is seeing some pressure due to Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege report.
Tether has already issued the rebuttal to allegations here - Tether Responds to New York Attorney General’s Actions and soon will claw back to its natural value of USD 1.
The volatility is quite gross when it comes to stablecoins. A lot of investors are in for a rude awakening.
Some portion of the portfolio one need to keep in stable coins to take advantages that keep coming in this volatile market.
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