Happycoin.club - Over the past week, the combined market cap of stablecoins has soared to $172 billion, which has not been seen since May 2022.

According to data from analytics platform DefiLlama, this figure has grown by 0.48% in seven days. At the same time, Tether USD (USDT) still dominates with a 69.25% share and a capitalization of $119.6 billion.

Data from CoinMarketCap shows that USDT is currently the most traded cryptocurrency in the market with a huge trading volume of $51 billion. Bitcoin and Ethereum are second and third with $27.5 billion and $14 billion, respectively.

According to crypto experts, the growth of the market cap of stablecoins usually indicates an increase in liquidity on digital asset trading platforms. This may serve as a signal that investors are waiting for a market correction to exit it. As a result, Bitcoin may become cheaper before stablecoins are converted into BTC or altcoins.

Over the past 24 hours, the Bitcoin rate has risen by 3.77% to $65,800. Over the week, the leading crypto asset has risen in price by 5.16%, and since October 2023, BTC has soared by 140.26%. Over the same period, the trading volume of the flagship cryptocurrency has increased by 69%.