Do People Prefer Stablecoins Over Bitcoin?

Explore the latest industry news, insightful data, and exciting updates from CoinMarketCap. ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌       [CoinMarketCap Spotlight Logo](~/AAQRxQA~/RgRnrIUvP0QraHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS8_bGlkPWZwcjRqaXV2YmR6cVcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)   [Globe Icon] GLOBAL CRYPTO MARKET CAP 1.79T ▼1.31% (24H) [24H Icon] 24H CRYPTO MARKET VOLUME $45.59B ▲1.78% (24H) [Bitcoin Icon] BITCOIN’S DOMINANCE 52.5% ▲0.34% (24H) FEAR & GREED INDEX [Fear & Greed Index] [ALL CRYPTO PRICES/DATA »](~/AAQRxQA~/RgRnrIUvP0QraHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS8_bGlkPWVzazBpanp3N2x0NFcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [TRENDING CRYPTO »](~/AAQRxQA~/RgRnrIUvP0RFaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS90cmVuZGluZy1jcnlwdG9jdXJyZW5jaWVzLz9saWQ9Y20xeGh5N2swZjE2VwNzcGNCCmXDLwDKZaAADMRSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [NEW LISTINGS ON CMC »](~/AAQRxQA~/RgRnrIUvP0QvaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9uZXcvP2xpZD1kbGl4YW5vNmVibXRXA3NwY0IKZcMvAMploAAMxFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [TRENDING DEX PAIRS »](~/AAQRxQA~/RgRnrIUvP0RAaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9kZXhzY2FuL3RyZW5kaW5nL2FsbC8_bGlkPXpzcG12YjVzemR2YVcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) Data as of: 12 Feb 2024 10 AM UTC [Gainer Icon] TOP GAINERS 24H% [Project Icon 4] [IMX](~/AAQRxQA~/RgRnrIUvP0Q6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9nYWluZXJzLWxvc2Vycy8_bGlkPWMwZnRiaThvb204elcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▲8.62% [Project Icon 5] [KLAY](~/AAQRxQA~/RgRnrIUvP0Q6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9nYWluZXJzLWxvc2Vycy8_bGlkPWd6NGJpeHlyN3NmclcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▲2.95% [Project Icon 6] [GNO](~/AAQRxQA~/RgRnrIUvP0Q6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9nYWluZXJzLWxvc2Vycy8_bGlkPWU2NmxxZGtqY2d3bFcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▲2.63% [Loser Icon] TOP LOSERS 24H% [Project Icon] [BONK](~/AAQRxQA~/RgRnrIUvP0Q6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9nYWluZXJzLWxvc2Vycy8_bGlkPWYxNjMwcXJtZjkyalcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▼9.11% [Project Icon 2] [DYM](~/AAQRxQA~/RgRnrIUvP0Q6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9nYWluZXJzLWxvc2Vycy8_bGlkPWZmcXgzbHhpdzE0OVcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▼8.19% [Project Icon 3] [MANTA](~/AAQRxQA~/RgRnrIUvP0Q6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9nYWluZXJzLWxvc2Vycy8_bGlkPTR6ejFyb21hcW04M1cDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▼7.7%   This week brought an unexpected boost to the crypto market as Bitcoin staged a rally back above the $48k level, breaking out after ranging under $43k for days. The breakout seems fueled by renewed hype and speculation surrounding Bitcoin's upcoming halving event this April. With miners' rewards getting cut in half, many traders are betting the reduced BTC supply flow will lead prices even higher. But enough musing about market prices for now, today we are here to catch you up on today’s top crypto news. Here's a lightning-fast rundown of the major headlines: • Argentines turn to black market exchanges to buy USDTs • DCG faces a $3 billion damages claim 💸 • Yuga Labs under fire over high gas fee • Bitcoin ETF surpasses $10 billion mark 🔥 • North Korea is on a massive crypto hacking spree 👀 • Hong Kong warns against MEXC exchange scams 🚨 Now let's dive deeper into each of those stories…   “Crypto Caves” Are Getting Popular in Argentina When your money loses half its value in a few weeks, thanks to insane inflation, paying rent can feel like tossing savings into a black hole. On that note, as Argentina is dealing with about a 200% inflation rate, locals are flocking to illegal P2P exchanges called "crypto caves" to exchange their rapidly depreciating pesos. At these hidden exchanges, people swap pesos for stablecoins like Tether to preserve their purchasing power. But why aren’t they buying Bitcoin instead? And what specific blockchain are they preferring to trade USDTs? [Read the full story](~/AAQRxQA~/RgRnrIUvP0RyaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvbG9jYWwtZmxvY2stdG8tY3J5cHRvLWNhdmVzLWluLWFyZ2VudGluYS1hbWlkLWluZmxhdGlvbj9saWQ9anBhZ2U4eHg2OGJhVwNzcGNCCmXDLwDKZaAADMRSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)!   DCG Needs To Pay $3 Billion New York's top legal officer has dramatically intensified accusations against DCG - demanding three times the previously sought restitution now topping $3 billion. The amended lawsuit alleges fraud by the group and key subsidiaries leading to widespread investor harm beyond initially suspected channels. But the crypto giant rejects these claims as exaggerated media bait rehashing old grievances, maintaining innocence and pledging legal defense. What exact allegations is the DCG facing? [Read the full story](~/AAQRxQA~/RgRnrIUvP0SqaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvbmV3LXlvcmtzLWF0dG9ybmV5LWdlbmVyYWwtZGVtYW5kcy1kb2xsYXIzYi1pbi1yZXN0aXR1dGlvbi1mcm9tLWRpZ2l0YWwtY3VycmVuY3ktZ3JvdXAtZm9yLWRlZnJhdWRpbmctaW52ZXN0b3JzP2xpZD00OGhsczBmdWY5NDlXA3NwY0IKZcMvAMploAAMxFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)!   [[ratio] Â](~/AAQRxQA~/RgRnrIUvP0QraHR0cHM6Ly93d3cueW91dHViZS5jb20vd2F0Y2g_dj00QWhWclg2M0h5d1cDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) How To Stay Safe with Crypto! You NEED To Know This! [WATCH NOW](~/AAQRxQA~/RgRnrIUvP0Q8aHR0cHM6Ly93d3cueW91dHViZS5jb20vd2F0Y2g_dj00QWhWclg2M0h5dyZsaWQ9NHBpeHF3bDgybzFkVwNzcGNCCmXDLwDKZaAADMRSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   Yuga Labs Faces Backlash Yuga Labs sparked fresh outrage this week after a well-intentioned token giveaway to loyal metaverse gamers went upside down, hammering participants with crippling gas fees. The incident reopened old wounds around Yuga’s reliance on high-priced Ethereum infrastructure despite past missteps and loud calls for alternatives. For Yuga, this presents an urgent crossroads: persist on legacy networks eating profits and alienating fans, or be open-minded about migration even with tradeoffs. But how exactly did the fees on Ethereum spike? Will other airdrops on Ethereum face the same consequences? [Read the full story!](~/AAQRxQA~/RgRnrIUvP0SLaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUveXVnYS1sYWJzLWZhY2VzLWJhY2tsYXNoLWFmdGVyLWZyZWUtb3RoZXJzaWRlLWdpdmVhd2F5LW1pbnQtaW5jdXJzLWhpZ2gtZ2FzLWZlZXM_bGlkPTdnZGZraW8wamZ6YlcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)   Now Something About Bitcoin ETFs… The launch of the Bitcoin ETFs has seen enormous demand from investors, with over $10 billion poured into these new funds in a month. The tidal wave of interest shows investors desperately wanted an easy way to add Bitcoin alongside traditional assets like stocks. Some even think Bitcoin could rival gold one day. Ark Invest CEO Cathie Wood believes Bitcoin's special features make it resilient when markets struggle. But will the hot streak last once the shine wears off? Or will investors embrace Bitcoin as a long-term asset? Do financial analysts and experts hold the same view as Cathie Wood? [Read the full story](~/AAQRxQA~/RgRnrIUvP0R3aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvYml0Y29pbi1ldGZzLXJlYWNoLWRvbGxhcjEwYi1pbi1hdW0tb25lLW1vbnRoLWFmdGVyLWFwcHJvdmFsP2xpZD05amFqYjhjdTRkb3FXA3NwY0IKZcMvAMploAAMxFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)!   [CMC Live: Weekly Crypto Forecast](~/AAQRxQA~/RgRnrIUvP0REaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jb21tdW5pdHkvcG9zdC8zMzMzNjU2OTUvP2xpZD16cmJnYXRwdDhzNWpXA3NwY0IKZcMvAMploAAMxFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) Monday, 12 Feb on 3PM UTC CMC-Community Live: Weekly Crypto Forecast Kick off the week at CMC Live, where our Research Lead, Alice, unveils essential highlights that are a must-watch for the week ahead! [JOIN US SOON](~/AAQRxQA~/RgRnrIUvP0REaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jb21tdW5pdHkvcG9zdC8zMzMzNjU2OTUvP2xpZD0wZGx1M2tjOXJ0aHJXA3NwY0IKZcMvAMploAAMxFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)   North Korea's $3 Billion Hacking Spree A United Nations committee has turned its focus to North Korea's suspected multi-billion dollar hacking operations targeting cryptocurrencies to allegedly fund prohibited weapons programs. The investigation, while details remain undisclosed, covers dozens of cyber attacks against digital asset companies over recent years. But experts think North Korea is about to hit back harder in 2024. More sophisticated, more disruptive cyber attacks. Does this mean more scrutiny and regulations in crypto? [Read the full story](~/AAQRxQA~/RgRnrIUvP0SLaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvdW4taW52ZXN0aWdhdGluZy1jcnlwdG8tYXR0YWNrcy1ieS1ub3J0aC1rb3JlYS1oYWNraW5nLWdyb3Vwcy10b3RhbGxpbmctZG9sbGFyM2I_bGlkPTVqOHpwdWp4cjB1OFcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   Scam Alert! Hong Kong's sounding alarms over scammers impersonating top exchange MEXC to rob new adopters blind through fake websites. Authorities found a network of similar domains frauding newcomers using the brand’s name. Investors handed over logins before realizing it was all a fraud. MEXC itself faces growing accountability concerns around freezing funds. So while accessibility drives adoption, newbies remain vulnerable to social engineering and identity theft. What domain names have been identified as scams so far? [Read the full story](~/AAQRxQA~/RgRnrIUvP0SSaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvaG9uZy1rb25nLXNlY3VyaXRpZXMtYW5kLWZ1dHVyZXMtY29tbWlzc2lvbi13YXJucy1vZi1mcmF1ZHVsZW50LXdlYnNpdGVzLXBvc2luZy1hcy1tZXhjP2xpZD1qZHJwY240ZTg3NndXA3NwY0IKZcMvAMploAAMxFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)!   And that’s a wrap! See you tomorrow with more crypto stories. Till then, HODL!   [Apple Store](~/AAQRxQA~/RgRnrIUvP0RLaHR0cHM6Ly9hcHBzLmFwcGxlLmNvbS9hcHAvY29pbm1hcmtldGNhcC9pZDEyODIxMDcwOTg_bHM9MSZsaWQ9dThvbWZiNzhvcmc2VwNzcGNCCmXDLwDKZaAADMRSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [Google Play](~/AAQRxQA~/RgRnrIUvP0RhaHR0cHM6Ly9wbGF5Lmdvb2dsZS5jb20vc3RvcmUvYXBwcy9kZXRhaWxzP2lkPWNvbS5jb2lubWFya2V0Y2FwLmFuZHJvaWQmaGw9ZW5fVVMmbGlkPXl6YjB2NHk2eTFlZ1cDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Twitter](~/AAQRxQA~/RgRnrIUvP0QyaHR0cHM6Ly90d2l0dGVyLmNvbS9Db2luTWFya2V0Q2FwP2xpZD1rM2ppbWhncmdpZzlXA3NwY0IKZcMvAMploAAMxFIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [Telegram](~/AAQRxQA~/RgRnrIUvP0QraHR0cHM6Ly90Lm1lL0NvaW5NYXJrZXRDYXA_bGlkPTJseXplZ2FlOHY1eFcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Facebook](~/AAQRxQA~/RgRnrIUvP0Q3aHR0cHM6Ly93d3cuZmFjZWJvb2suY29tL0NvaW5NYXJrZXRDYXA_bGlkPXJ6d2FxZjV3bTk4eVcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [Instagram](~/AAQRxQA~/RgRnrIUvP0Q5aHR0cHM6Ly93d3cuaW5zdGFncmFtLmNvbS9jb2lubWFya2V0Y2FwLz9saWQ9ODhwYjJoMWFyZXdrVwNzcGNCCmXDLwDKZaAADMRSG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [LinkedIn](~/AAQRxQA~/RgRnrIUvP0RAaHR0cHM6Ly93d3cubGlua2VkaW4uY29tL2NvbXBhbnkvY29pbm1hcmtldGNhcC8_bGlkPWhrZ2t6MDVsaW81dFcDc3BjQgplwy8AymWgAAzEUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) You were sent this message because you subscribed to CoinMarketCap. To update your email settings, [click here](~/AAQRxQA~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~). To unsubscribe from all CoinMarketCap emails, [click here](~/AAQRxQA~/RgRnrIUvP4TaAWh0dHBzOi8vMDUuZW1haWxpbmJvdW5kcHJvY2Vzc2luZy5jb20vZW5jX3VzZXIvdW5zdWJzY3JpYmU_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~). © 2024 CoinMarketCap OpCo LLC 8 The Green, STE 6703, Dover, Delaware 19901, United States