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Stablecoin Ratio Hits Two-Year Low, Tether & Circle Mint $7B
Tether and Circle Mint $7B in Stablecoins
- Tether and Circle have collectively minted $7 billion in stablecoins following a recent market crash.
- Tether recently minted an additional $1 billion USDT.
- The demand for dollar-pegged assets is increasing.
- Tether's market capitalization stands at $182 billion, with a 58.4% share of the stablecoin market.
- Circle's USDC holds a $76 billion market cap.
- Tether has reached 500 million verified users, highlighting its broad adoption.
Binance Stablecoin Ratio
- The stablecoin-to-Bitcoin ratio on Binance has dropped to its lowest point in two years, indicating potential buying power.
- The ratio currently stands at 0.8149, suggesting traders are holding liquidity for potential buying opportunities.
- This trend has historically preceded major price rallies during accumulation phases.
Citi's Stablecoin Market Forecast
- Citi analysts project a $1.9 trillion stablecoin market by 2030.
- Stablecoins are expected to represent 5% to 10% of total crypto valuation.
- Stablecoins are compared to the growth of money market funds in the 1980s in terms of liquidity impact.
USDT, USDC, and BTC links allow access to detailed coin information.