Experts from the analytical company Matrixport noted that the increase in stablecoin inflows indicates a heightened use of cryptocurrencies. However, specialists warn that this may not be sufficient to initiate a parabolic rise in altcoins.
This is reported by Finway
The volumes of stablecoins continue to gradually rise, indicating the expansion of the crypto ecosystem. Matrixport analysts stated that “the influx of funds into stablecoins is increasing despite uncertainty in the stock and bond markets, suggesting a potential transformation of cryptocurrency into an asset less correlated with traditional markets.”
Experts also emphasized that the growth in stablecoin volume may be insufficient to trigger a sharp increase in altcoin prices. However, in their opinion, these indicators suggest that the cryptocurrency industry continues to develop and remains far from stagnation.
Additionally, Matrixport highlighted that the opportunities for using cryptocurrencies are becoming increasingly attractive amid trade wars. For example, the CEO of Tether, the issuer of the USDT stablecoin, Paolo Ardoino, recently announced the beginning of a new era, which he called the “multiverse of stablecoins.”
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