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…
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…
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…
According to data from leading crypto analytics firm Santiment, a distinct trend has unfolded in the stablecoin sphere. Even as stablecoins designed to maintain parity with a reserve asset like the US dollar, continue to hold their $1 peg, the combined market capitalization of the top five stablecoins – Tether (USDT), USD Coin (USDC), Binance…
Tether (USDT) is the largest stablecoin in the market, with a market capitalization of over $86 billion as of May 2023. Despite the concerns about the current state of the cryptocurrency market, Tether has continued to dominate the stablecoin space, with its supply growing significantly since the beginning of 2023. However, there are signs that…
The native currency of Avalanche, AVAX, remains under pressure despite Circle’s effort to launch a facility that will enable the direct transfer of USDC between Ethereum and Avalanche blockchains. Avalanche (AVAX) Is Down 18% From April 2023 Peaks Avalanche is a smart contracting platform with sub-second transaction finality and a rival of Ethereum. However, considering the…
In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.” The proposal, submitted on January 9, aims to look for a…
Stablecoin adoption has grown immensely, observed especially following the collapse of Terra. USDC and USDT have seen sizeable growth, but USDT has a lot of keeping up to do with its value plunging as of press time. USDT trades at $0.09999 as of this writing Stablecoin waning in terms of social mentions and engagements Tether…
Optimism blockchain network has recently noticed an enormous uptick in both USDC and USDT transactions which have eclipsed $1 billion. What seems to have caught people’s attention is the fact that the Optimism chain seems to be unrivaled and unmoved by the chaos happening in the crypto space. This is now tagged as an unusual…
Volatility is one of the distinguishing attributes of the crypto market that springs surprises in several observers. It creates a desirable environment for traders and investors in the crypto industry to advance with huge profits. Over the past week, the crypto market experienced the presence of the bulls in considerable measure. Most of the crypto…