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The curious case of stablecoins amid slumping crypto market

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Despite the crypto market slump, stablecoins held firm, suggesting investor confidence. The market cap remained at $1 trillion, but liquidation declined.

has revealed that the overall impact hasn’t been as devastating as expected. As of this writing, the crypto market cap remains impressively high at around $1.1 trillion, holding its ground in the trillion-dollar territory.Source: CoinMarketCap

However, it’s worth noting that the trading volume tells a slightly different story. Over the same timeframe, the volume witnessed a more notable decrease, dipping by over 9%. This suggests that while the market cap retained its strength, trading activity has seen a more substantial decline., the total liquidation in the crypto market stands at over $43 million. While this amount may appear significant, it pales in comparison to the $130 million recorded in the previous 24 hours.

This substantial reduction in liquidation could potentially ease the market’s selling pressure, at least in the short term.

 

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