Stablecoin demand maintains pace as other cryptocurrencies tumble

More investors are swapping cryptocurrencies for stablecoins, signaling a potential shift toward the less risky asset.
Stablecoin dominance is near 16%, about 2.7 percentage points away from an all-time high set in mid-June. (This percentage is determined by how much of the total crypto market capitalization is made up of stablecoins; it is, from one perspective, a bearish indicator the stronger it becomes.)
“Stablecoins have been growing independently of market cycles simply because of their ability to improve financial inclusion,” Paolo Ardoino, chief technology officer of the world’s larges

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