Matrixport: stablecoins contribute to the growth of bitcoin

Over the past few weeks, steady stablecoin issuance has played a crucial role in pushing the price of bitcoin BTC $95,033.91 Bitcoin -1.82% Market capitalization $1.88 trillion VOL. 24 hours $2.52 billion over the $ 65,000 mark. According to Matrixport, active stablecoin issuance remains at a high level, underscoring their key role in the recent rise of BTC. The trend reinforces the idea that institutional investors are becoming the main drivers of cryptocurrency growth.

Stablecoins, which are pegged to the value of traditional currencies, continue to serve as an important bridge between fiat money and digital assets. They provide investors with a convenient and fast way to enter the crypto market, minimizing volatility and providing liquidity. Over the past 2−3 weeks, the issuance of stablecoins has not only supported bitcoin’s growth, but has also exceeded other macroeconomic factors and monetary measures in terms of importance.

Interest in stablecoins is also fueled by the growing popularity of bitcoin ETFs. Matrixport analysts believe that this indicates the growing influence of institutional capital, which is increasingly focused on cryptocurrency assets.

It is worth noting that this phenomenon is taking place against the backdrop of the general instability of the global economy. Lower interest rates and stimulus measures by central banks are driving the inflow of funds into alternative assets such as cryptocurrencies. Stablecoins, which act as a kind of «calming agent» for investors, play a key role in the rapid transfer of funds to BTC under favorable conditions.

Experts note that traders should closely monitor the activity in the stablecoin market, as it will be a key factor in forecasting bitcoin prices.

It should be noted that at the time of writing, the market leader has dropped to $ 62,819, and the market capitalization of BTC is $ 1.2 billion.