The curious case of stablecoins amid slumping crypto market

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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