"Blood wash" and "plunge" are common words in the recent digital coin world.
In the new week, the digital currency as a whole opened the downward pattern, the "king of the coin" led the decline.
On Monday, Bitcoin fell below $5,000 for the first time in more than 13 months, just five days before slipping below the $6,000 mark.
On Tuesday, November 20, the price of bitcoin continued to dip, falling below $4,300 in the afternoon, the most significant one-day drop of more than 10%, and at the time of writing, the price was around $4,600. Bitcoin has fallen for eight days, its lowest level since October 2017. Bitcoin has fallen more than 22 per cent in the past seven days and more than 65 per cent in the year.
As a result of the current strict regulatory policies in various countries, the currency is often challenging to obtain through exchanges, and the stable coin is, therefore, the best alternative to hedging other large fluctuations.
Second, while USDT remains the essential stable coin, the market is increasingly in demand for more compliant and secure alternatives to stable currency as concerns about USDT issuer banking are taking place.
Bitcoin's fall below $5,000 last week has also led more investors to sell volatile cryptocurrencies and turn to stable coins.
The result of these is a surge in stable coin trading volumes over the past two days, particularly QC. A large number of users to charge, so that the major exchanges on the QC stable currency, the average daily trading volume of more than 5 billion.
As a QuickCash Singapore operations team, this result was unexpected, which also made the team more determined to provide users with better use, safer, and faster stable coin to become the team's mission.