OTC USDT has a 1.68% premium to the exchange rate of fiat currency, and the total amount of stablecoins on the exchange has increased

特邀专栏作者

2021-03-25 18:28 (UTC+8)

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Market funds did not show a trend of aggressively entering the digital currency market due to the sharp drop that started last night. A number of data on stablecoins have shown that the market has remained active recently, and this sharp drop has not cha

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News on March 25, according to data from CoinMarketCap, BTC began to fall sharply from yesterday evening. Within 24 hours, the price of the currency fell from a maximum of 57,262.38 US dollars to a minimum of 52,129.25 US dollars, "diving" to 5,133 US dollars, a drop of about 9.85%.

Driven by BTC, other tokens also showed a general decline. Within 24 hours, the total market value of digital currencies fell from a minimum of 1.77 trillion US dollars to 1.61 trillion US dollars, "evaporating" nearly 161.213 billion US dollars, a drop of about 9.08%.

During the period of market turmoil, is there more money entering the market to "buy the bottom"? According to data from CoinMarketCap, stablecoins such as USDT, USDC, and PAX are currently displayed at $1, and their prices have fluctuated less recently. However, according to PAData’s observations, in the over-the-counter trading markets of the three major exchanges, Binance, Huobi and OKEx, the price of USDT is about 6.64 yuan. Compared with today’s exchange rate of USD to RMB, USDT has a premium of about 1.68% . The current price of OTC USDT has risen by about 0.1 yuan, or about 1.64%, from when the market continued to rise a month ago, and is generally stable.

In addition, according to data from CryptoQuant, as of March 24, the total amount of stablecoins held by exchange addresses was about 9.124 billion U.S. dollars, an increase of 188.37% from the beginning of this year, and it has not shown a rapid growth trend recently.