USDT And USDC Market Caps Exploded In April – Crypto Traders Choose Stablecoins

The crypto market looks pretty mixed today, with the king coin trading in the green ahead of the halving.

At the moment of writing this article, Bitcoin is priced at $9,296.03.

In a previous article that we just published, we revealed that stablecoins gain more importance in the crypto space.

A lot of companies are turning to them as a payment alternative for Bitcoin and Ethereum. Gilded’s COO, Neal Roche said that the use of digital currency in B2B payments is changing as the stablecoins are making it easier to transition to the new tech for cross –border transactions.

2020 continues to be the year of the stablecoins.

USDT and USDC see massive increase in market cap

Tether (USDT) and Coinbase’s USD Coin (USDC) saw massive increases in the market cap back in April as crypto traders moved to stablecoins following the massive disaster from back in March which saw Bitcoin‘s price falling below $4,000.

USDT is designed as a bridge between fiat and crypto and it is pegged to the US dollar – traders often use it to escape crypto market volatility.

USDC, on the other hand, is fully banked, fully regulated, and audited on a monthly basis by financial institutions.

The crypto market recovered following the fall

April wasn’t just a good month for stablecoins. Bitcoin was also able to get back its losses from the March 12, 2020 crash.

More than that, according to reports from the online publication the Daily Hodl, tech companies also performed well in the market.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

Coinbase
Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

Trending news

Top Exchanges
Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

5

Website

Icon
FortuneJack

4.55

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

2278 Articles

Top Exchanges
Top Casinos
Icon
7bitcasino

4.20

Website

Icon
BitStarz

4.93

Website

Icon
FortuneJack

4.90

Website

Top Sportsbook
Icon
1xBit

4.03

Website

Icon
Nitrogen Sports

4.73

Website

Icon
SportBet.io

4.60

Website

Trending news