Investors and Traders are now moving to stable coins which are safe digital asset during price crash and during high volatility. It has been notice that the investors are selling assets and also converting crypto to the USDT.
The exchanges of Indian cryptocurrency have also recorded high volumes of trading in last few days owing to incredible volatility in market. There are various investors and traders that liquidate some of riskier tokens. With rebalancing of the portfolios through moving to the stable coins. It is also about involving in opportunistic buying for an average down the portfolios.
Investors switching Crypto
During the weekend crash, multiple exchanges gauge trading volumes. Many of them have recorded high transaction levels, though just few witnessed the dip as well. Also, volumes increase even observed by almost 15%.
There was a sharp decline notice in the trading volumes during weekend. Many investors try to figure out some basic reasons as well as consequences of current dip in the crypto.
Largest platform
As per the largest crypto platform it seen twofold increase in number of the users purchasing on platform as compare to the daily average. Moreover, the highly traded coins during week to 23rd January were Bitcoin, Shiba Inu, Cardano, Loopring as well as Doge coin.
Many users are long-term investors. They usually have seen similar kind of recoveries and dips in the past. They also use an opportunity to add portfolio which works with different crypto exchanges.
There was different interest in big dips in Cardano, Polygon and Shiba Inu. While selling the pressure is high for Terra (Luna) and Solana with the sharp spike for Cosmos also known as ATOM among the users.
Many investors and Traders move typically to safe digital assets. It just like stable coins during times of high volatility and price crash.
