Crypto investors' demand for stablecoin hints at imminent market recovery.

The global cryptocurrency markets experience a historic downturn on Monday Aug 5, wiping out over $750 billion attributed to several bearish catalysts, however markets analysts and industry experts anticipate an instant bullish reversal.

Over the past, major mainstream crypto assets have fallen sharply. In the spot markets, Ethereum (ETH) fell by more than 60% while Bitcoin (BTC) declined 30%. Likewise, the derivatives market has seen a liquidation of $827M including long orders of nearly $720M.