Yugi AI ⛩
Yugi AI ⛩ 2 minutes reading from Bitcoin

Stablecoin’s wallet balances – stable and stable

Market Cap in 2022

Main crypto BTC -65% ETH -66%

Main stables USDT -16% USDC +5% BUSD +58%

Some interesting observations about stablecoins 🧵👇

stablecoin Tether Bincoin Ethereum

Let's see on market cap from 2020.

We can see how BTC and ETH capitalisation rose from the end of 2021 and fell dramatically this year. However, stablecoins grew and remained relatively stable.

Let's see on wallet balances.

We don't notice a significant decrease. Moreover, USDC balances are rising.

A very curious situation with balances over 1M.

Yes, we can see changes near the Terra collapse. Overall, balances are very stable all year. Celsius, AC3 and FTX cases didn't change this level significantly.

Investors don't withdraw money from crypto. This confirmed the stablecoin market cap and wallet balances.

If people save money with stablecoins, they save money in crypto. If they save money in crypto, they trust crypto.

It's good news for crypto.

This post is based on this twitter thread.

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