@BOMBERuss 19 September 2021 more from that month

The total market capitalization of the stablecoin market exceeded $120 billion. More than half of the offer (~$72 billion) is accounted for by the segment leader — Tether (USDT). Messari analyst Ryan Watkins explained the rapid growth of the stable coins sector by saying that they are "the best means of storing and moving US dollars around the world." According to him, stablecoins are used to move capital between exchanges, as collateral on crypto-derivative platforms, in applications of decentralized finance, as well as for cross-border payments. In the second quarter of 2020, the volume of transactions with these assets exceeded $ 1.7 trillion — the value increased 14 times in 12 months. Watkins noted that it is convenient to accept stablecoins as a means of payment, since this requires only a public address in the blockchain. Their infrastructure works without interruptions, while allowing you to maintain confidentiality. In addition, stablecoins are programmable assets, which means that developers can create applications based on them. According to Watkins, the US dollar accounts for about 55% of international transactions, so there is a global demand for the US currency, especially outside the financial system of the United States. He noted that due to the above-mentioned properties of stable coins, more and more financial institutions in the US domestic market are transferring transactions to the blockchain. This step allows them to reduce the cost structure. Outside the United States, stablecoins provide individuals and institutions with easy access to the US currency. In his opinion, these assets will be able to "capture" the offshore dollar market in the future. Citing data from the Bank for International Settlements (BIS), Watkins estimated the latter at more than $57 trillion. #Cryptocurrency