Mati Greenspan: 6 billion dollars will move to Bitcoin, Ethereum and Litecoin

  • Data from Messari shows that about 6 billion dollars are placed in stablecoins.
  • Capital placed in stablecoins could move towards the major cryptocurrencies like Bitcoin, Ethereum and other Altcoins. 

Crypto analyst Mati Greenspan analyzed data collected by Messari and determined that $6 billion are placed in stablecoins. Greenspan developed a theory and explained that investors are preparing to move this amount of money to Bitcoin, Ethereum, Litecoin and other major Altcoins.

According to Greenspan’s theory, investors have moved their capital into stablecoins to protect themselves from the bearish market of the last quarter of 2019. Greenspan wrote on his Twitter account:

96% of investors use Tether to protect their investments

On the other hand, research by Binance Research revealed that the stablecoin Tether is the favorite among investors for protecting their investments. Binance found that 96% place their investments in this stablecoin:

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USDT is the dominant stablecoin with 40.25% usage, holding the top ranking for both Chinese and English survey respondents. USDC, TUSD, PAX are following close behind USDT, and several English survey respondents wrote in BUSD under ‘Others’, reflecting an initial interest by our institutional & VIP clients […]

Putting the broader results in line with respective market capitalizations, the overall use for each stablecoin is roughly in line with the rank of its respective market capitalization.

The crypto market has shown bullish signs throughout 2020. In the coming months, an event could trigger even more gains and new capital flowing into the market from new investors. Bitcoin’s Halving will take place in May with high expectations in the crypto-community to drive a new bull market.

Although there is no consensus on whether the event will meet the high expectations. Some experts have said that the Halving could disappoint and could have no effect on Bitcoins price. CoinShares’ Melem Demiros shares Binance’s thesis and says that this Halving will be unique and that it is impossible to make a comparison with previous years because the market has established a more mature enviroment.

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About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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