Experts at Matrixport noted that the increase in stablecoin volume indicates a rise in the use of cryptocurrencies. However, they warn that this may not be sufficient to trigger a sharp rise in altcoins.
This is reported by Business • Media
The volume of stablecoins continues to grow steadily, indicating the development of the crypto ecosystem. Analysts at Matrixport believe this points to new opportunities in the world of digital currencies.
“It is worth noting that the influx of funds into stablecoins is increasing despite uncertainty in the stock and bond markets, indicating a potential transformation of cryptocurrency into an asset less correlated with traditional markets.”
Furthermore, experts emphasized that while the volumes of stablecoins are increasing, this may not be enough to initiate a parabolic rise in altcoins. However, they are confident that the industry continues to evolve and is far from stagnation.
Matrixport also pointed out that potential use cases for cryptocurrencies are becoming increasingly attractive amid trade wars. It is worth recalling that the CEO of Tether, the issuer of the USDT stablecoin, Paolo Ardoino, previously announced the beginning of a new era referred to as the “multiverse of stablecoins.”