USDC Exchange Reserve Spikes – Can This Help Push Bitcoin Back Up?
On-chain data shows the USDC exchange reserves sharply rose recently, something that could help push Bitcoin back up after the latest drop. USDC Exchange Reserve Observes Sharp Rise In Recent Days As pointed out by an analyst in a CryptoQuant post, the large amount of USD Coin that flowed into exchanges recently could be deployed to act as fuel for Bitcoin. The “exchange reserve” is an indicator that measures the total amount of USDC currently sitting in wallets of all centralized exchanges. Since stablecoins are tied to fiat (which in the case of USDC is USD), their value is....
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On-chain data shows the USD Coin exchange reserves have gone up recently, suggesting that investors may be exiting volatile markets like Bitcoin. USD Coin All Exchanges Reserve Has Been Climbing Up Recently As pointed out by an analyst in a CryptoQuant post, there have been signs of selling from Bitcoin investors for moving into USDC. The USD Coin “all exchanges reserve” is an indicator that measures the total amount of the stablecoin currently present in wallets of all exchanges. When the value of this metric goes up, it means investors are either depositing their USDC to....
The crypto market is experiencing a correction with Bitcoin and Ethereum giving back their gains from previous weeks. The general sentiment in the sector was optimistic but could take a blow if main cryptocurrencies lose their current levels. Related Reading: USDC Exchange Reserve Spikes – Can This Help Push Bitcoin Back Up? At the time of writing, Ethereum (ETH) trades at $1,690 with a 10% loss in the last 24 hours and 7 days, respectively. The cryptocurrency has preserved a critical support zone at $1,700 that was turned from major resistance into support. In a market update, BitMEX....
The crypto exchange Binance has recently continued to push for growth in its share of the Bitcoin volume, as well as the stablecoin market. Binance Zero Fees Leads To Big Surge In Bitcoin Trading Volume, Exchange Drops USDC Support As per the latest weekly report from Arcane Research, the volume on Binance has remained substantially […]
On-chain data shows the USDC exchange inflow has spiked up. Historically, stablecoins have provided dry powder for kicking off new Bitcoin rallies. USDC Exchange Inflow Sharply Rose To High Values Recently As explained by an analyst in a CryptoQuant post, almost one billion USDC has flowed into exchanges recently. Past pattern suggests this may lead to uptrend for Bitcoin. The “USD Coin exchange inflow” is an indicator that measures the total amount of the stablecoin entering wallets of all exchanges within a given period. When the value of this indicator moves up, it means....
The USDC issuer has started investing funds into its CRF (Circle Reserve Fund) to ensure that holders can redeem their coins when they want. Many crypto firms faced issues this 2022 due to the market crash. Some downsized, while others filed for bankruptcy. Generally, the entire market felt the impact of the crypto winter, and […]