O.o!
Portfolio manager and crypto analyst Mati Greenspan says billions of dollars are essentially sitting on the sidelines, ready to move into Bitcoin, Ethereum, XRP and the altcoin market at large.
Greenspan is using data from the crypto research firm Messari, which shows that the total value of all stablecoins is just shy of $6 billion. Stablecoins are digital currencies that are pegged to traditional assets like fiat. They’re designed to maintain a steady value and offer crypto traders an easy way to sidestep the extreme volatility of the crypto markets.
Greenspan’s theory implies that the billions of dollars in the stablecoin market represent traders who have decided to exit their positions in BTC, ETH, XRP and other crypto assets and are waiting for the optimal time to re-enter the market.
Comments are closed.