“Investors are ready to pounce” – Crypto now braces for $140 billion earthquake after Terra Luna-Led, Ethereum, BNB, XRP, Solana, Cardano and Dogecoin prices crash

Bitcoin BTC and crypto prices are struggling after crashing again in recent months following the collapse of the algorithmic stablecoin terraUSD and boosted by the Luna coin – sparking some wild expectations for crypto prices.

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Bitcoin price rebounded this week around the closely watched $20,000 per bitcoin while Ethereum price built some support above $1,000 per ether. The other 10 cryptocurrencies – BNB BNB, XRP XRP, solana, cardano and dogecoin – also rose, adding more than $100 billion to the cryptocurrency’s combined market cap from recent lows.

Now that bitcoin and cryptocurrencies have been labeled the “largest Ponzi scheme in human history,” research shows that $140 billion is “ready to be rolled out in bitcoin and altcoins” following the rapid growth of the four largest stablecoins by market capitalization.

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Bitcoin and cryptocurrencies have suffered a major crash in recent weeks with the price of Bitcoin… [+] It crashed more than 70% from all-time highs and the price of Ethereum, BNB, XRP, solana, cardano and dogecoin all plummeted.

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Digital Asset Investment Management (DAIM) analysts wrote in a recent report: “The amount of money on the digital margin has never been greater and signals an abundance of impatient investors ready to pounce on discounted digital assets,” citing the growth of USDT from Tether, and USDC From Circle, BUSD from Binance, and DAI from MarkerDAO.

These four dollar-pegged stablecoins have risen more than 20-fold – from $7 billion to $147 billion – over the past two years.

“This means that the ecosystem has an additional $140 billion ready to be deployed in bitcoin and altcoins,” wrote the DAIM researchers, noting that stablecoins also provide shelter from crypto storms and wild price swings.

Meanwhile, research by Australian digital asset manager Zerocap, first reported by Blockworks, found that with the combined market capitalization of cryptocurrencies plummeting by 70%, from $3 trillion to $900 million, the circulating supply of the four largest stablecoins has increased. By about 13%.

“The net growth in the supply of stablecoins fully indicates that users are keeping money on-chain rather than falling back into the dollar,” ZeroCap told Blockworks. “It is possible that a portion of the stablecoins in the chain will be held there while investors are costing the average dollar to invest or are sitting idly by, waiting for an appropriate time to allocate.”

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Bitcoin price has made its way back above $20,000 per bitcoin this week after a few bruising… [+] Weeks that weighed on Ethereum, BNB, XRP, solana, cardano and dogecoin prices.

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Circle’s USDC has seen nearly 60% growth over the past eight months, giving it a market cap of $55 billion, Zerocap found — putting USDC within easy reach of $65 billion off the rope. On the contrary, the circulating supply of USDT has recently diminished as investors are out.

“The exponential growth of USDC relative to its peers indicates an increase in investors who value clarity around support for stablecoins,” ZeroCap said, referring to how various stablecoins maintain their peg to the dollar. “Terra’s collapse has burned a large percentage of users into space and is likely to cause a reassessment of the quality of support behind the (intended) stable portion of their portfolio.”

DAIM analysts predict that the bottom of the bitcoin and cryptocurrency market will come towards the end of this year, warning that the price of bitcoin could drop as low as $10,000.

The DAIM analyst added: “Maximum pain in Bitcoin generally means maximum opportunity.” “There will come a time when the negative news will run out.”

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