JPMorgan: The Shrinking Stablecoin Market Is Another Sign of Investors’ Exodus From Crypto

From coindesk.com

One way of measuring investors' exodus from the crypto ecosystem is the shrinkage of the stablecoin market, JPMorgan said in a research report Wednesday. Stablecoins, a type of cryptocurrency whose value is pegged to another asset such as the U.S. dollar, are the equivalent of cash in the crypto world and provide a bridge between fiat currencies and cryptocurrencies, the report said. The growth of the stablecoin market can be viewed as a proxy for the amount of money that has entered the digital assets sector, the report added. The combined market cap of the largest stablecoins reached a peak of $186 billion in May, ... (full story)