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Stablecoins Market Cap Up By 65% – Driving The Bull Rally Forward?
Stablecoins Market Cap Up By 65% – Driving The Bull Rally Forward?
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Amidst a momentary pause in the current crypto bull run, stablecoins have emerged as a potential factor capable of driving the market forward. Market analyst Burak Kesmeci has provided much insight on this possibility while highlighting the impressive market gains of these stable digital assets in recent times. Stablecoins have surpassed their all-time high market cap value of $202 billion, recording a 65% gain from a local bottom of $123 billion in October 2023. This growth suggests that stablecoins could provide a much-needed boost to the crypto market amidst much uncertainty, as evidenced by consistent range-bound movement by major assets.
