The curious case of stablecoins amid slumping crypto market

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

David Rosenberg: Bear market and recession calls remain in place despite the rallyThe stock market is up but we remain in a bear market, argues David Rosenberg. Read more
Source: financialpost - 🏆 7. / 85 Read more »

David Rosenberg: Bear market and recession calls remain in place despite the rallyThe stock market is up but we remain in a bear market, argues David Rosenberg. Read more
Source: fpinvesting - 🏆 43. / 63 Read more »

David Rosenberg: Bear market and recession calls remain in place despite the rallyDavid Rosenberg: Bear market and recession calls remain in place despite the rally — via financialpost
Source: VancouverSun - 🏆 49. / 61 Read more »

David Rosenberg: Bear market and recession calls remain in place despite the rallyDavid Rosenberg: Bear market and recession calls remain in place despite the rally — via financialpost
Source: calgaryherald - 🏆 64. / 52 Read more »