Stablecoins market boosted by latest BTC rally

USDT, USDC and DAI experienced strong growth in their transfer volumes from the BTC jump

Bitcoin (BTC) jump over USD 11,000 in recent days triggered various indices in the crypto market. In addition to a considerable increase in the volume of operations of the exchanges and in the futures market , the new rally of the main cryptocurrency once again boosted the activity in the blockchain of the main stablecoins in the market .

The main stablecoins linked to the dollar, Tether ( USDT ) and USD Coin ( USDC ) , as well as DAI recently experienced a significant increase in market capitalization. Furthermore, considerable growth in its transfer volumes temporarily coincides with BTC's jump to five figures.

According to specialists, the increase in transfer volumes is a better indicator of the adoption of stablecoins , compared to trading volumes. In this sense, they also point out that this type of asset has gained its place in the majority of capital transfers between large investors.

In this regard, Tether announced yesterday via Twitter a transfer of USDT 300 million from TRON (TRX) to Ethereum . While they didn't delve into details, the TRON network may be suffering from a lack of demand.

On the other hand, it should be noted that the main exchanges worldwide are not oblivious to the growth perceived in the stablecoins field . Through a statement released yesterday, Coinbase announced that it will offer 2% interest per year on DAI deposits for its clients in the United States , Australia, Spain, the United Kingdom, the Netherlands and France. This is their new “Dai Rewards” program, from which investors can obtain an annual percentage yield (APY) from their capital .