As one of the biggest stablecoins, USDC is one of the major players in the crypto industry. However, the stablecoins have seen better days, as the stablecoin has seen its market cap drop drastically over the past few months. The second-largest stablecoin has seen its market cap drop by over $1.4 billion in just the…
The value and popularity of TerraUSD Classic, or USTC, the algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, have skyrocketed recently. Today, the stablecoin makes a surprise rally, sparking a great deal of interest among investors and cryptocurrency aficionados. The sharp growth in USTC could be an indication of a sharp rise in demand and…
Tether, one of the largest stablecoin issuers, has recently made a significant move in the cryptocurrency market. With the release of an additional 1 billion USDT on the Ethereum and TRON networks, Tether aims to solidify its market dominance and enhance its interoperability. Whale Alert, an on-chain analytics account known for monitoring significant cryptocurrency transactions,…
Stablecoins, the digital assets designed to maintain a stable value, have long been viewed as a potential bridge between the cryptocurrency world and the traditional financial industry. However, recent developments have cast a shadow of uncertainty over their perceived stability. As global policymakers continue to grapple with concerns about the crypto sector’s impact on the…
USDC experienced a notable decrease in its circulating supply during the weekend, causing ripples of concern within the cryptocurrency market. According to data from CoinGecko, the stablecoin’s circulating supply dwindled by over 2%, falling from $27.9 billion on June 30 to $27.3 billion in less than 48 hours. This sudden drop has intensified existing worries…
Data shows the stablecoin market cap has returned toward equilibrium and may be gearing up for a reversal. Here’s how Bitcoin could benefit from this. Aggregate Stablecoin Market Cap Change Has Returned To Equilibrium According to data from the on-chain analytics firm Glassnode, the aggregate stablecoin market cap had previously been in a decline for…
On-chain data shows the supply of stablecoins has been going up recently, a sign that could potentially be bullish for Bitcoin. Stablecoins Have Registered An Increase In Their Supply Recently As pointed out by an analyst in a CryptoQuant post, every increase in stablecoins’ supply since late 2022 has been accompanied by a rise in…
Data shows the sharks and whales of the largest stablecoins have been accumulating, something that may turn out to be bullish for Bitcoin. Sharks & Whales Have Been Loading Up On Stablecoins Recently According to data from the on-chain analytics firm Santiment, the sharks and whales have recently improved their share of the total supply…
Data shows there has been a large spike in interest around stablecoins recently, a sign that investors of Bitcoin and other assets may be looking to exit. Stablecoins Have Observed A Sharp Rise In Social Volume Recently According to data from the on-chain analytics firm Santiment, there has been a major uptick in the social…
Bitcoin on-chain indicator Exchange Stablecoin Ratio (ESR) has continued to show bullish divergence recently. Will the price also mimic this? Bitcoin ESR Has Continued To Sharply Ascend In Recent Weeks As explained by an analyst in a CryptoQuant post, the ESR is currently acting as a leading indicator for BTC’s price. A relevant metric here…