Crypto Investors Keeping Stablecoins For Next Big Price Movement ByAli RazaPRO INVESTOR Updated: 19 June 2020 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage The March 12 crypto crash had hit many investors hard, fast, and without mercy. The entire crypto industry managed to halve itself in value amid the panic of the coronavirus pandemic, with Bitcoin managing to drop under the $4,000 mark at the worst stages of it. However, the industry has taken notice of something: Stablecoins are performing at their best in this trying time, which hints at investors gearing up for another round. Waiting To Make A Move The stablecoins have managed to maintain a record-high level for more than a month, and crypto analysts have taken it as a sign that crypto traders as a whole have yet to give up on the industry. It’s suspected that they’re simply biding their time, stablecoins in their accounts, until there’s an excellent opportunity to re-enter the mainstream forms of crypto like Bitcoin or Ethereum. As stated, many investors in the crypto industry moved their holdings to stablecoins, particularly the ever-popular Tether (USDT), as well as the USD Coin (USDC). This occurred during one of the largest sell-off in the crypto industry’s history, where half of the crypto space’s market value simply vanished in the span of days. Stablecoins Staying Strong However, it should be noted that the market cap for stablecoins didn’t go down during this turbulent time. The stablecoin space didn’t drop as volatility skyrocketed across the industry, and it hasn’t dropped since it’s gone down to normal levels. In fact, the stablecoin market cap has only been rising as of late. This, in turn, makes analysts theorize that investors are bullish for crypto, they’re just waiting for the right time to push their money into their coin of choice. Ryan Selkis, the founder of the crypto market research firm, Messari Crypto, made an astute observation in regards to this. There's now $3 billion++ of stablecoins sitting on exchanges. If investors wanted to cash out of crypto completely, they would have withdrawn funds to banks. Instead, we've got more dry powder held in the crypto economy than ever before. In both real and market cap % terms. pic.twitter.com/rCEYNqcMY0 — Ryan Selkis (@twobitidiot) April 17, 2020 He explained that if investors had indeed given up on the crypto market as a whole, they wouldn’t be in crypto stablecoins at all, for the most part. Selkis stated that they would’ve sold their crypto holdings, stablecoins included and moved the funds to conventional bank accounts. However, with more than $3 billion staked in stablecoins at this time, there’s an entirely different narrative being suggested: one of bullish intent. Warnings For Future Bull Run Glassnode, another blockchain analytics firm, made similar speculation after it pointed to the trend, as well. ? $USDT Balance on Exchanges (1d MA) just reached an ATH of 1,662,908,185.561 USDT Previous ATH of 1,662,197,084.871 USDT was observed on 16 April 2020 View metric:https://t.co/Hpeb0LFt3p pic.twitter.com/52plIME2H8 — glassnode alerts (@glassnodealerts) April 17, 2020 Glassnode had reported that Tether had managed to accrue another all-time-high in balances held in exchanges on Friday. The previous all-time high was recorded just a day before the new record. Thus, it’s quickly concluded that the appetite for stablecoins is only growing for investors, and the market is continuously growing by the day. Join Our Telegram channel to stay up to date on breaking news coverage