RATE Group | Cryptocurrency News Today – Headlines for March 18
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Cryptocurrency News Today – Headlines for March 18

23 Mar Cryptocurrency News Today – Headlines for March 18

Posted at 04:50h in Cryptocurrency News by

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  • Bitcoin’s drop in value massively affected the market
  • Stablecoins have increased their dominance as BTC dropped
  • Ethereum’s market cap increased by $300 million

Cryptocurrency News Today – Bitcoin’s drop in value has massively affected the market. Undeterred by this chaos is the stablecoin space. Stablecoins, are designed to minimize volatility, and they continue to be widely used in the cryptocurrency-space, despite the current poor market performance.

Stablecoins have been frantically minted following the BTC price drop on March 12. This action contributed to the stablecoin market cap increasing hugely in the same period. The markets posted two consecutive sharp increases on the ‘BTC/USD vs USDT chart for a market cap on March 12. Tether is the most dominant of all stablecoins after it registered a $4.8 million surge in its market cap.

Stablecoins Have Increased Their Dominance as Bitcoin Declined

Historically, on the days where the USDT ERC20 is minted, more than 70% of the…

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