Stablecoins went wild in the days before Bitcoin’s recent surge
Retail investors are buying into Bitcoin, says CryptoQuant CEO. In the days preceding Bitcoin’s latest rise in price, stablecoins went wild, exhibiting some largely unprecedented behavior.Stablecoins: all stablecoins inflow transaction and address count of all exchanges. Source: CryptoQuant.On October 18, stablecoins moving to exchanges reached record highs of 60,000 and 56,000 respectively, according to data from CryptoQuant. The outlet's data tracked USDT on Ethereum, PAX, USDC, TUSD, DAI, SAI, BUSD, HUSD and USDK. When it comes to the total inflow of all stablecoins in terms of the....
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Ethereum has seen some wild price action over the past few days, with its bulls moving to erase its pattern of underperformance that has plagued its price action The crypto is now sitting firmly above $730 and may be positioned to see even further upside in the coming days This rebound seen against its USD trading pair has also come as it shows subtle signs of strength against BTC as well Weakness on ETHBTC has […]
Over the last few weeks, cryptocurrency markets have fallen in value as most of these assets reached all-time price highs three months ago. Despite the price drops, 2021 has still been an explosive year for crypto gains and fiat-pegged stablecoins have grown massively as well. 53 days ago, the entire capitalization of fiat stablecoins crossed the $100 billion mark, and the stablecoin market valuation continues to grow, swelling 13% since the end of May. Stablecoin Market Valuation Grows by 13% in 30 Days, Tether Issuance Slows Stablecoins have made their mark in the crypto economy over the....
Cardano (ADA) has undergone a strong surge to the upside over recent days. Per data from TradingView.com, the coin is up around 30% since it bottomed just two days ago. Unfortunately, technical signs show that the cryptocurrency is primed to reverse lower after the rally. This is in line with some analysts that expect Bitcoin’s […]
Four days ago, I wrote an article describing how Bitcoin nearly hit the $600 mark during its surge, stopping at $585. The price increase slowed for a day or two, and Bitcoin’s value remained steady. Over the past 48 hours, however, Bitcoin’s price has risen dramatically, from $570 to $640, a 12.3% increase. After the initial surge four days ago, CCN writer Venzen Khaosan predicted that the “price will reverse from current levels around $600 and may retrace at least 50% of the advance to $520″, and that “traders and investors should brace themselves for a strong price reversal.” That....