Viewpoint: Stablecoins performed well in March with a total value of more than US $ 2 billion or the crypto market will quickly rebound

According to Bitcoinist, the data shows that the number of stablecoins on the Binance exchange has grown steadily, indicating that retail investors are transferring stablecoins to the exchange. The reason may be that retail investors intend to convert other cryptocurrencies such as Bitcoin to stablecoins . In addition to this, CoinMetrics co-founder Nic Carter said that not only USDT, but in the past few weeks, the number of other stable coins has risen. The total value of stablecoins in March exceeded US $ 2 billion. This is by far the best month for stablecoins. The value of stablecoins other than USDT has also increased by $ 500 million. Overall, the current total value of all stablecoins has exceeded 8 billion US dollars, accounting for 4.2% of the market value of the entire crypto market. In this regard, there is a view that the market is about to reach a critical point, that is, investors want to sell stablecoins to hold bitcoin, which can promote the rapid recovery of the cryptocurrency market.