Analysts: the current situation of stablecoins is a sign of the resumption of the upward market rally!

In recent weeks, the cryptocurrency market has been relatively quiet, fueling concerns about whether Bitcoin and altcoins are headed for a downturn.

However, market analysts, citing stablecoin inflows and other reasons, believe that the possibility of a resumption of the bull cycle remains high.

In this regard, IntoTheBlock's analytical team reported that the market value of stablecoins is strongly improving. According to reports, the market value of stablecoins has increased by more than $9 billion since October 2023 and now stands at $133 billion.This increase reflects the renewed strength of the stablecoin sector and underscores the significant injection of liquidity into the digital currency industry. The increase of this index is also a promising sign of increasing investors' confidence in the possible start of the upward trend of the market.

In this regard, market analyst Zyre says that stablecoins are a bridge between traditional finance and the crypto industry. Therefore, the increasing market value of stablecoins shows that “the bridge is expanding to accommodate more cryptocurrency enthusiasts.”

In the meantime, it should be noted that USDT Tether is the leader in the stablecoin sector with its market value of more than 97 billion dollars.

Get 500 million Baby Dodge reward

Register in Bitland right now and get 500 million Baby Dog bonus!

Beginning

However, analysts at JP Morgan recently expressed concern about USDT's dominance, citing significant risks for the crypto industry. Instead, they support the USDC because its issuing company, Circle, is compliant with the regulations.

In addition to the increase in the market value of stablecoins, industry experts believe that the price of digital currencies will also increase due to the upcoming bitcoin halving event and the official approval of spot bitcoin ETFs.