The CEO of the crypto research and data company Messari says that $ 3 billion is waiting on the sidelines to enter Bitcoin, Ethereum, XRP, Litecoin and other cryptocurrencies.
Ryan Selkis, CEO of Blockchain data company Messari, claimed that he is expecting a huge amount of money to move to Bitcoin, Ethereum, XRP and other cryptocurrencies on the sidelines.
Noting that crypto exchanges currently hold more than $ 3 billion of stable crypto money on behalf of their customers, Selkis says that these investors are in a strategic position to re-enter the speculative cryptocurrency market as soon as possible.
Selkis said, “There are currently over $ 3 billion stable cryptocurrencies in the stock exchanges. If these investors wanted to get out of the crypto money market completely, they would withdraw their money to the banks. Instead, more cash reserves are kept in the cryptocurrency economy than ever before. ” says.
The chart below shows the amount of stable cryptocurrency held on exchanges. Accordingly, Binance has the biggest share with 1 billion 390 million dollars stable crypto money. At OKEx, 816 million dollars of stable crypto money is kept.
Stable cryptocurrencies refer to cryptocurrencies that are supported and indexed by fiat currencies. Designed to have a fixed value, these cryptocurrencies offer an easy way to escape the high volatility of the market. Research shows that 96 percent of investors use Tether (USDT) indexed to the US Dollar. There are stable cryptocurrencies indexed to the dollar, as well as those indexed to the Turkish Lira. Launched last year, BiLira (TRYB) is a stable cryptocurrency supported by Turkish Lira.
When the most used stable cryptocurrencies are listed, USDT takes first place, followed by USDC, PAX, TUSD, DAI, GUSD, BUSD and USDS.