Bitcoin might not be able to observe any extended runs of bullish momentum until this on-chain indicator reverses its trend. Stablecoin Whale Supply Has Dropped To Lowest In Six Months During the past few days, Bitcoin has registered some rise and has managed to breach the $27,000 level. The asset has, however, been unable to…
A new report has shown that the adoption of PayPal’s PYUSD stablecoin has seen less than favorable adoption rates since its inception. The crypto community remains skeptical about employing the new stablecoin for daily crypto payments and has opted for top competitor stablecoins like USDT and USDC. PYUSD Experiences Sluggish Adoption Rate Global payments giant…
Amidst the constant price swings and uncertainties that plague the crypto market, stablecoins have become an invaluable asset for investors and traders. However, analysts have revealed several stablecoins that have been struggling to maintain the esteemed stability reserved for these types of assets. Stablecoins Under Pressure The inherent volatility of the crypto market and the…
On-chain data from Santiment suggests that the stablecoin whale supply could be the metric to watch for the likelihood of a Bitcoin bounce. Whale Supply Of Stablecoins Could Hold Key To Bitcoin Rebound In a recent post on X, the on-chain analytics firm Santiment discussed the percentage of the total stablecoin supply that the whales…
The trend in the total supply of the stablecoins may have hinted in advance that the Bitcoin rally wouldn’t last too long. Bitcoin Stablecoins Supply Hasn’t Moved Much Recently An analyst in a CryptoQuant Quicktake post explained that the latest news has been unable to make the stablecoins supply budge. The “stablecoins supply” here refers…
Terra Luna Classic (LUNC) has embarked on a six-month journey marked by a consistent downtrend, largely influenced by the gravitational pull of a so-called descending channel pattern. This pattern, characterized by successive lower highs and lows, mirrors an active market sentiment favoring sales during attempts at bullish rebounds. Mid-August proved to be a pivotal juncture…
Reports indicate that PayPal’s stablecoin, PYUSD, was originally intended to be launched in collaboration with FTX on the Solana blockchain in 2022. However, unforeseen circumstances led to a sudden suspension of these plans. The collaboration between PayPal and FTX for the initial issuance of PYUSD on Solana was unexpectedly put on hold. According to Colin…
On-chain data shows a pattern in the stablecoin shark and whale holdings that may suggest the Bitcoin rally could make a return in the near future. Stablecoin Sharks & Whales Have Been Accumulating Recently According to data from the on-chain analytics firm Santiment, the sharks and whales of the major stablecoins have been increasing their…
Bitcoin has continued to stagnate recently as another recovery move has failed to prosper. So here’s an indicator that may hint when a break could happen. Bitcoin Rally May Not Resume Until The Stablecoin Market Cap Goes Up Around the start of this week, Bitcoin observed a sharp plunge that had taken the asset’s price…
The on-chain analytics firm Santiment suggests that this indicator may be the one to watch to get hints about when Bitcoin might rebound. Large Stablecoin Holders Have Seen Stagnant Supply Recently According to Santiment, the movements of the dolphins and sharks of the top stablecoins like Tether (USDT) and USD Coin (USDC) may be relevant…