Stablecoin boom in the cryptocurrency market! 💵

Lots of stable news over the last 2-3 days! So, summary:

Sony Bank will test a stablecoin at Polygon

— Nikkei

🪙 Ripple will launch its own stablecoin on the XRP Ledger and Ethereum blockchains.

The token will be 100% backed by deposits in US dollars, short-term US government treasury bonds and other cash equivalents.

XRP reacted to this news yesterday with good growth, but then followed the alto into a correction...🫂

Tether Treasury minted 4 billion. $USDT to #Ethereum and #Tron in just 4 days

— Lookonchain

Where did those minted $USDT go?

Since April 1, about $3.55 billion USDT has flowed to #Binance , #Bitfinex ,#Krakenand #Coinbase.

Looks like someone is seriously preparing to buy back the correction 🤫

I'll explain why this is good:

The release of new ones or the printing of new ones almost always brings with it a surge of liquidity into the market. Using the same Tether as an example: when minting a new USDT token, the interested party transfers USD to the Tether Limited account.

This means that someone has an interest not only in Tether, but also in the products that can be bought for it! I hope you know what I mean? 😏

🌐 If you find this information useful, please support me by tipping Binance.🙏🏾