Biggest one day USDC print in history marks lowest Bitcoin dominance in years
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....
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Bitcoin dominance has dropped to the lowest level in just over three and a half years since June 3, 2018, at 37%. Last year, at the end of March, bitcoin dominance hovered just above the 60% zone but since then, numerous digital asset market caps have swelled in value and gathered prominence in the market rankings along the way. Bitcoin Dominance Dips Below 38% The crypto economy currently has roughly 12,247 crypto assets traded across 542 exchanges worldwide. Crypto markets have shed more than 7% over the last 24 hours, dropping to a low of $2.16 trillion by 8:00 a.m. (EST). While people....
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....
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....
Altcoins have risen to a three-year dominance high after tagging a record combined capitalization of nearly $1.5 trillion last week. While Bitcoin tumbles in response to Elon Musk’s Twitter account yet again, altcoin dominance has surged to its highest level in roughly three years.As of this writing, Bitcoin represents 40.3% of the combined crypto asset capitalization — the lowest it has been since June 2018, according to CoinMarketCap.Bitcoin hit a market dominance low of 33% in January 2018 when it was cooling from its previous peak while the altcoins were just hitting theirs. It is....
Altcoins are stepping into the spotlight as Bitcoin comes down from months of all-time highs, but can conditions stay favorable for long? Bitcoin (BTC) now accounts for less than 60% of the total cryptocurrency market capitalization, heralding the arrival of "alt season 2.0."In a tweet on March 29, analyst Filbfilb, co-founder of trading suite Decentrader, announced that conditions were finally right for a fresh altcoin surge as their total market capitalization is hitting new highs of nearly $750 billion.Altcoin market capitalization. Source: CoinMarketCapBitcoin dominance at its lowest....