The Stablecoin do not know the crisis. At the moment the whole financial market is in sharp decline, the volume of transactions of stablecoins saves a new record, increasing 8% in the first quarter of 2020.
The season of stablecoins
The health crisis seems to get the market stablecoin which has experienced significant growth since the beginning of 2020. According to the figures, in the first quarter, the transaction volume for these types of assets has exceeded $ 90 billion, a record never achieved until now. For comparison, the total volume of transactions in stablecoin throughout the year 2019 was $ 250 billion.
The instability of the stock market has pushed many investors to put their money in the stablecoins, renowned for their constancy in time. In effect, the value of a stablecoin is indexed to that of a national currency, and would be, therefore, relatively stable. At the same time, the rest of the crypto-market has collapsed in recent weeks, including the Bitcoin, which fell briefly below the bar of $ 7,000.
The performance race
On the market stablecoins, some digital assets have been more successful than others. Among this list is the Tether which moved up from seventh to fourth crypto-currency is the most important in terms of market capitalisation between 15 February to end of march.
The USDC has also made significant progress during the last month, from the 30th place with a capitalization of $ 430 million in 17th place. Last month, the TrueUSD (TUSD) is entered in the top 50 crypto-currencies by market capitalization, moving from the 60th to the 35th rank in a few weeks.
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