Why the $172B Stablecoin Market Could Send Crypto Prices Higher

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Why the $172B Stablecoin Market Could Send Crypto Prices Higher
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Tom Carreras is a markets reporter for CoinDesk. He holds BTC, ETH and SOL above CoinDesk's disclosure threshold of $1,000.

That means there’s a lot of sidelined capital ready to be deployed when momentum picks up again, according to analyst Alice Liu.Crypto markets are sitting on a powder keg that could soon blast prices higher.

“A lot of people want to keep cash on the side – both crypto degens and institutions,” Liu said. “It’s almost similar to Warren Buffett holding cash on the side, waiting to buy at any point.”holding nearly $277 billion in cash at the end of the second financial quarter. That’s a 46% increase from the $189 billion that it was sitting on in the first quarter.

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