After the sales in the crypto money markets, the market value of stablecoins started to rise.
While cryptocurrencies such as Binance Coin, Solana, Cardano fell by more than 36 percent, the market values of stablecoins, whose value is tied to another underlying asset, increased.
Tether (USDT) market cap reached $78.5 billion on Tuesday, while USD Coin (USDC) market cap climbed to $44 billion, surpassing Solana.
Favorable interest rates are said to be the most significant reason stablecoins attract investors.
Bitcoin fell sharply on Monday, seeing below $ 40,000 for the first time since September. After the selling wave that spread throughout the crypto money markets, Bitcoin recovered on Tuesday and climbed above $ 42 thousand again.