CJ - Cryptocurrency Enthusiast
Since the end of October, the market capitalization of all stablecoins in circulation has decreased by more than $2.98 billion, or more than 2%. According to statistics, Tether (USDT), the largest stablecoin by market size, experienced a market cap decline of more than 5% during the past 30 days. The market capitalization of Tether decreased from $69.13 billion last month to $65.48 billion today.
In addition, the market cap of all stablecoins in circulation is significantly lower than it was two months ago, falling by 4.83% from $151.37 billion to the current $144 billion total.
However, USD coin (USDC), the second largest stablecoin by market size, has seen a rise in its market value over the past 30 days, rising by about 1.5%. The value of the stablecoin BUSD has increased 4.8% over the past 30 days and continues to rise month after month. The market cap of BUSD, one of the top five stablecoins today, increased the most in the previous month.
One of the reasons for the decline of stablecoins could be the lack of transparency and information missing on how these assets are being backed in the cryptocurrency investment market. It appears that more people are turning to Bitcoin (BTC) and other crypto assets since they are less likely to fail due to the way they have been built and code being the governor.
The cheapest coin site to convert your stablecoins to other cryptocurrencies is BCBitcoin. Here you can buy and sell cryptocurrency with fiat or another cryptocurrency from a wide selection of more than 180 different coins.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards