Stablecoins to explode to 9 billion, but for Bitcoin, the huge Boom is not only bullish

In the last few weeks, stablecoins, so crypto-assets that are underpinned by a “stable” reserve balances have obtained, for the crypto currency market is becoming increasingly important.
First of all, they were seen more as assets to be used by fringe groups – but in the meantime this makes a sub-group of Altcoins a growing percentage of the crypto market from the total value.
In fact, the value of all outstanding stablecoins, according to the data of the Blockchain Analytics company Coin Metrics of 20. April exceeded for the first Time ever, the mark of 9 billion dollars. Particularly interesting about this statistic is that six weeks ago, the total value of all stable coins amounted to 6 billion dollars.
The common Thesis is that this is for the crypto-market is a decisive upturn – which many suspect that the growing value of the stable coins is money that can be invested in Bitcoin, Ethereum and other crypto-currencies.
However, the right, under certain circumstances, not all – and some suggest that the demand for stable coins for other reasons increases. Reasons to suggest that crypto-unsettled investors, or at least currently, are not ready to buy Bitcoin.

The enormous Stablecoin-Boom is not for crypto only bullish

If you were in the last few weeks, crypto-Twitter-on-the-go, you probably know that the Stablecoin-issuers (such as Tether, Binance, Gemini, and others) have been shaped in the wind stablecoins.
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An example: just last week marked two days in a row, following days of USDT in the value of $ 120 million.
According to Sam Bankman-Fried, the CEO of the crypto-exchange FTX and the Bitcoin-Trading-funds Alameda Research, this phenomenon of fast-growing USDT stocks on three main factors:
Free traffic-traders, “mostly from Asia”, want to buy USDT. Although Bankman-Fried is not received on this claim, it is a known fact that Chinese traders use the solutions of a Tether, because they have no other access to the crypto markets. Some have also suggested that USDT is a good way to move money around the world, even if you don’t want to interact with Bitcoin inter.People are selling crypto-Assets for USDT in order to “hedge positions”.People sell crypto-Assets for USDT in order to reduce “the risk”.
Presumably these issues also apply to other crypto stable of coins whose supply has increased in the last two months rapidly.
The connecting theme between these three factors is that the USDT may not be used in the Moment to buy Bitcoin in this size.

Bitcoin is still bullish

Although Bankman-Fried, and other market participants represented in this Thesis, there are indications that the demand will turn on the selling side, ultimately in the buying pressure.
Messari-CEO Ryan Selkis explained that the data of its company, according to a now stable coins to the value of $ 3 billion on the stock exchanges are located. The fact that the stable coins not leave the stock markets, a sign that investors are willing to look in the end in Bitcoin shop.
Selkis:

“Wanted to let investors your crypto stocks, completely pay off, they would have deducted money to the banks. Instead, we now have more dry powder in the crypto-economy than ever before.“

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