USDC whale holdings percentage lowest in almost two years
USDC tokens held by the largest addresses have dropped to a two-year low as Circle freezes Tornado Cash-related assets. The percentage of USD Circle (USDC) stablecoins held by major wallet addresses dropped to its lowest point in almost two years as the cryptocurrency market downturn continues.Cryptocurrency analytics firm Glassnode has released the latest data on USDC metrics, reflecting a recent sell-off of the second biggest U.S. dollar-backed stablecoin by market capitalization. $USDC Percent Supply Held by Top 1% Addresses just reached a 22-month low of 87.667% Previous 22-month low....
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The $3 billion USDC influx puts the total supply of the stablecoin at around $14,4 billion, reaching over a quarter of Tether's market cap. More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap at the time. The sudden arrival of $3 billion worth of USDC into the cryptocurrency market coincides with a surging altcoin market, evidenced....
While most of the crypto market seems to have entered panic mode, one Bitcoin whale has gone on an incredible buying spree. The very young whale has only been here for three months but it now boasts one of the largest BTC holdings in the industry. However, the question for now is, while this whale […]
The continuous price fluctuations in the crypto market considerably impact the Circle’s stablecoin, USD Coin (USDC). The recent performance of its whales’ addresses is making a more southern move. USD Coin records a drop of almost a two-year low in its primary wallet addresses. According to data from Glassnode, a crypto analytics company, USD Coin metrics are becoming less impressive. For example, the stablecoin had recent sell-offs and drops that cut down its market cap. Related Reading: Bitcoin Price Witnesses Sharp Sell-Off – Further Volatility On Chart? A report on the....
Bitcoin whales have been consistently accumulating BTC since the beginning of the year amidst a bullish future outlook for the crypto industry. These elevated whale holdings showed investor confidence, which also translated into a bullish rally for Bitcoin over the past six months. Related Reading: Solana Price Could Skyrocket 900% As Analyst Identifies Bullish Chart […]
The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022. The growth of Circle's native stablecoin USD Coin (USDC) in the last two months compared to its $66-billion rival giant Tether (USDT) is nothing short of spectacular.USDT, USDC market cap ratio hits the lowest on recordNotably, USDC's market capitalization has grown by 8.27% since May, reaching its highest level of $55.9 billion on July 2. In contrast, USDT has suffered an over 19% drop in its market valuation, currently treading around $66.14 billion.USDT circulating market cap. Source: MessariThis is the closest USDC....