Crypto Markets Analysis: The recent increase in bitcoin prices shows investors positioning themselves for a potential price downturn. GWilliamsJr_CMT reports
An on-chain measure of stablecoins versus bitcoin held by exchanges indicates the appetite for the largest cryptocurrency by market capitalization could be waning.
As stablecoins serve as a primary mechanism for purchasing crypto assets, a lower ratio equates to more buying power.The recent increase in the ratio implies that investors are moving fewer stablecoins to exchanges and more bitcoin, or they are doing both simultaneously. Theoretically, if investors felt that more gains were to be had following a price increase, the stablecoin volume to exchanges would increase.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tether Is Winning Stablecoin Battle Despite Looming RisksAlready the world’s largest stablecoin by market cap, tether’s value has increased by more than $5 billion in the past two weeks.
Read more »
Binance Experiences Significant BTC, ETH, and Stablecoin Withdrawals Following CFTC Lawsuit – Bitcoin News3,655 bitcoin worth more than $99 million were withdrawn from Binance over the past day, according to Coinglass metrics.
Read more »
Binance's BUSD Stablecoin Sees $500M Outflows After CFTC LawsuitSome analysts say the exchange's recent move to include other stablecoins in its zero-fee trading program could have contributed to lessening dependence on BUSD.
Read more »
Human chain moves books to new Spanish Fork libraryHundreds of volunteers gathered in Spanish Fork on Saturday morning to help move books from the old library to the new one across the street.
Read more »
Black woman sues S.C. BBQ chain with racist historyA South Carolina barbecue chain known for its pro-segregation stance in a landmark 1960s case and its embrace of the Confederate flag in 2000 is facing allegations of racism and sexual harassment by the fired general manager of one of its restaurants.
Read more »
Apple CEO Tim Cook meets with China's commerce minister on supply chainApple CEO Tim Cook met with a top China commerce official, Wang Wentao, to discuss China's reopening and broader supply chain issues.
Read more »