Billions in Crypto 'Dry Powder' On Exchanges Ahead of Bitcoin's Next Move
As reported, many crypto investors sought refuge in popular stablecoins like tether (USDT) and the Coinbase-backed USD coin (USDC) as the crypto market saw one of its largest sell-offs ever on March 12 and 13. However, the market capitalization of the major stablecoins have not decreased even as volatility in the crypto market has returned to normal levels. On the contrary, stablecoin market capitalizations have continued their rise, causing some to speculate that all of this capital is eagerly waiting to enter bitcoin (BTC) or altcoins again.
This is very true