The market capitalization of Tether (USDT) has an increase of 17 % in the middle of the banking crisis since the beginning of the year

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Von: Krypto News Österreich

Der Bankensektor könnte möglicherweise einer dringend benötigten Umgestaltung unterzogen werden, aber bis dahin scheinen die Anleger nach einem Sicherheitsnetz zu suchen. Während die traditionelle Finanzwelt vom Chaos der Credit Suisse und dem Zusammenbruch einer Reihe von US-Banken erschüttert wird, strömen die Anleger zum größten Stablecoin, Tether (USDT). Die Turbulenzen haben dem umstrittenen Vermögenswert erneut geholfen, seinen Vorsprung auszubauen. Tether-Marktkapitalisierung Die Silicon Valley Bank (SVB), Signature Bank und Silvergate Capital, die einst als wichtige Dreiergruppe von Kreditgebern dienten, die Einlagen von Kryptounternehmen abholten, brachen alle in diesem Jahr in relativ kurzer Zeit zusammen. Der Niedergang dieser Einheiten hat die „Instabilität“ von …
The banking sector could possibly be subjected to urgently needed redesign, but until then the investors seem to look for a safety net. While the traditional financial world is shaken by the chaos of Credit Suisse and the collapse of a series of US banks, investors flock to the largest stable coin, Tether (USDT). The turbulence helped the controversial asset again to expand his lead. Tether market capitalization The Silicon Valley Bank (SVB), Signature Bank and Silvergate Capital, which once served as an important group of three of lenders, picked up the deposits of crypto companies, all broke together this year in a relatively short time. The decline of these units has the "instability" of ... (Symbolbild/KNAT)

The banking sector could possibly be subjected to urgently needed redesign, but until then the investors seem to look for a safety net. While the traditional financial world is shaken by the chaos of Credit Suisse and the collapse of a series of US banks, investors flock to the largest stable coin, Tether (USDT).

The turbulence helped the controversial asset again.

Tether market capitalization

The Silicon Valley Bank (SVB), Signature Bank and Silvergate Capital, which once served as an important group of three of lenders, picked up the deposits of crypto companies, everyone collapsed in a relatively short time this year. The decline of these units has made the "instability" of stable coins clear.

The FinTech company Circle admitted an engagement of $ 3.3 billion at SVB, which briefly drawn its USDC token to 88 cents instead of the usual one-dollar price. The token has regained its bond thanks to the lifeguards that the US regulatory authorities made available when they tried to ensure that the deposits in Silicon Valley were secure while CIRCLE promised financial support.

USDC is the second largest stable coin and is also often used in decentralized financing (Defi). While the recent turns of events did not lead to a terra-like catastrophe, the threat was massive, and this further tightened the stable coin crisis. This has led to the fact that the USDC market capitalization has so far fallen by almost 21 % this year.

A similar trend was also observed at Binance USD (BusD), which this year had its fair proportion of setbacks among the supervisory authorities in the United States. Busd's market capitalization fell by more than half to just over $ 8 billion.

The market capitalization of Tether, on the other hand, has reached a level that was last reached in May 2022. In fact, Usdt has followed a steady upward trend since the massive decline this month and even managed to rise over $ 77 billion. It has increased by over 17 % since the beginning of the year, since retailers rely on the asset more than ever.

safety net?

The mood for stable coins has hurried, as investors who were frightened by the Terra crash, to heal billions from Tether and switch to USDC. This time, however, Usdt turned out to be a industry favorite, despite concerns about assurance and his parent company Tether Global.

The performance is due to the fact that Tether confirmed that SVB or Silverbank had no commitment. Another strong sign is that the stable coin dominance of Tether, according to glass node data, has also been at the highest level in 18 months and 60 % of the share.

It can be said early on whether Usdt will turn out to be a safety net for investors in turbulent times, but its ability to maintain stability under adverse market conditions could have proven that it will not be overturned so quickly.

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