Bitcoin trading to USDT drops by nearly a quarter

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In the month of September as Bitcoin’s price took a tumble, so did the stablecoins. Seen to serve different sectors of the market, some as a trading hedge, some as a trading pair, or some as a crypto-investment bridge, stablecoins have a multitude of purposes, yet their use, in a sluggish market is teetering.

According to the Crypto Compare’s Monthly Exchange Review, Bitcoin trading to Tether [USDT], the prime stablecoin dropped by a whopping 21.29 percent from August to September. Despite being the most popular stablecoin in the market, ahead of competitors like USD Coin [USDC] and Paxos Standard [PAX], USDT’s by-and-large drop is notable.
It should be noted here that Bitcoin monthly trade volume from August to September dropped significantly. Crypto-to-crypto exchanges saw a fall of 28.57 percent, representing 84 percent of the total cryptocurrency exchange volume. Fiat-to-fiat exchanges which represent 16 percent or $83.93 million volume saw a monthly drop of over 17 percent from August to September…

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