Rise in unique active addresses and weekly senders underlined growing interest in stablecoins, there appears to be renewed interest in the stablecoin sector. This, following the growing uncertainty fueled by the Securities and Exchange Commission’s lawsuits.An indication of this growing interest can be evidenced by the hike in unique active addresses in stablecoin transactions.for instance, these active addresses have been steadily increasing following the SEC’s litigations earlier this week.
Risk mitigation also played a significant role. According to onchain, during times of legal scrutiny, investors tend to adopt a risk-averse approach by shifting their investments from altcoins to stablecoins. This strategy allows them to reduce exposure to potential regulatory actions and safeguard their capital.
Preserving trading opportunities is another motivating factor for these traders. Investors who wish to maintain their market participation may convert their altcoins into stablecoins. This approach enables them to minimize exposure to potential regulatory hurdles while retaining a position in the cryptocurrency market, ensuring they are well-prepared for future trading opportunities.Currently, USDT is leading the market in terms of market cap.