• Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact
Thursday, November 30, 2023
FinCurrency
No Result
View All Result
  • Home
  • News
  • Finance
  • Economy
  • Crypto
  • Home
  • News
  • Finance
  • Economy
  • Crypto
No Result
View All Result
FinCurrency
No Result
View All Result

Whales Shift Focus to Stablecoins, Signaling Expectations of Market Volatility

Andras Crow-Hreidar by Andras Crow-Hreidar
May 26, 2023
in Crypto
Reading Time: 2 mins read
A A
0
Whales-Shift-Focus-to-Stablecoins-Signaling-Expectations-of-Market-Volatility-
0
SHARES
7
VIEWS
FacebookTweetPinShareShare

According to on-chain analytics provider Santiment whales are now focusing on stablecoins like USDC and DAI instead of buying more Bitcoin . This suggests that these influential investors are holding onto stablecoins which gives them more purchasing power in the future . Around 37% of portfolios with holdings between $100,000 and $10 million have USDC while 39% have MakerDAO’s DAI stablecoin . In comparison only 6 .4% of these portfolios include Binance USD (BUSD) and there is no data available for Tether (USDT) holdings .

Whales Adjust Strategies in Response to Possible Market Volatility and Bitcoin’s Price Changes

Whales are choosing to accumulate stablecoins since mid-April which coincided with Bitcoin’s price reaching a peak of $31,000 in 2023 . This move by whales may be a sign that they expect further price drops in the cryptocurrency market or that they want to make short-term bets against Bitcoin . Additionally fewer people are trading on exchanges which indicates that more users prefer to hold onto their assets rather than actively trading . This lower trading activity on exchanges can contribute to increased volatility in the market .

Tether and USDC Show Different Market Trends in Stablecoin Landscape

There is a noticeable difference in the market trends of Tether (USDT) and USD Coin (USDC) which are two of the most popular stablecoins . Tether holds the majority market share with 63 .6% and a circulation of $83 billion while USDC has a smaller market share of 22 .5% and $29 .3 billion in circulation . This shift in fortunes comes as Tether gained favor after overcoming challenges related to previous meltdowns while USDC faced scrutiny and lost its value’s peg to the US dollar due to its connection with Silicon Valley Bank . These contrasting developments have affected the market capitalization of these stablecoins .

2Whales-Shift-Focus-to-Stablecoins-Signaling-Expectations-of-Market-Volatility-

Regulatory Scrutiny Impacts Stablecoin Offerings

Regulatory scrutiny has influenced stablecoin offerings . In February regulators investigated Paxos and Binance USD (BUSD) which leads to halted coinage . As a result the supply of BUSD decreased by 67 .5% since the beginning of the year . These regulatory actions and supply reductions have had an impact on the stability and perception of stablecoins which raises awareness about potential risks associated with them .

You may be interested in:

Multifamily Real Estate Underwriting: Essential Steps for Beginners

The Secret Of Succesful NFT Marketing: Storytelling

According to JPMorgan’s CEO, The Banking Situation Will be Worse

 

Previous Post

Multifamily Real Estate Underwriting: Essential Steps for Beginners

Next Post

Microsoft President Urges Governments and Companies to Take Responsibility in the Face of AI Advancement

Andras Crow-Hreidar

Andras Crow-Hreidar

Hi there, my name is András and I'm a business and finance journalist living in Norway. My passion lies in uncovering the latest stories in the world of finance and delivering them to my readers in a way that's clear and engaging. I cover a wide range of topics in the finance world, including cryptocurrencies, which I believe have the potential to transform the way we interact with money and financial systems. As a journalist, I'm committed to providing my readers with accurate and reliable reporting. I believe that access to high-quality information is essential for making informed decisions, whether it's about personal finances or investments. When I'm not writing about finance, I enjoy a variety of hobbies and interests.

Next Post
2Microsoft-President-Urges-Governments-and-Companies-to-Take-Responsibility-in-the-Face-of-AI-Advancement-

Microsoft President Urges Governments and Companies to Take Responsibility in the Face of AI Advancement

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Popular News

  • 2VOO-vs-VTSAX--Which-Is-the-Better-Fund-for-You--

    VOO vs. VTSAX: Which Is the Better Fund for You?

    0 shares
    Share 0 Tweet 0
  • IPT Price Prediction

    0 shares
    Share 0 Tweet 0
  • Key Differences Between Asset Allocation and Security Selection

    0 shares
    Share 0 Tweet 0
  • XBitcoin Capex Club Review : Is It A Scam ?

    0 shares
    Share 0 Tweet 0
  • “Gambling” Analogy for Crypto from UK Lawmakers

    0 shares
    Share 0 Tweet 0

Recent News

2Famous-Economist--Elon-Musk-Will-Choose-This-Altcoin

Famous Economist: Elon Musk Will Choose This Altcoin!

July 31, 2023
2CryptoBlades-SKILL-Coin-Weekly-Analysis-And-Price-Prediction

CryptoBlades (SKILL) Coin Weekly Analysis And Price Prediction

July 31, 2023
2DAR-Token-Weekly-Analysis-And-Price-Prediction

DAR Token Weekly Analysis And Price Prediction

July 31, 2023
2Big-News-Coming--SHIB-Tweet-Spoken

Big News Coming? SHIB Tweet Spoken!

July 30, 2023
FinCurrency Logo White Mode Retina Mobile

FinCurrency is a user-friendly platform that stands out as a unique source where our strong team of experienced and academically qualified writers, who are experts in their fields, analyze current issues and global affairs related to the finance and crypto world in an enjoyable and non-technical approach.

2Famous-Economist--Elon-Musk-Will-Choose-This-Altcoin

Famous Economist: Elon Musk Will Choose This Altcoin!

July 31, 2023
2CryptoBlades-SKILL-Coin-Weekly-Analysis-And-Price-Prediction

CryptoBlades (SKILL) Coin Weekly Analysis And Price Prediction

July 31, 2023
2DAR-Token-Weekly-Analysis-And-Price-Prediction

DAR Token Weekly Analysis And Price Prediction

July 31, 2023
  • Home
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Team
  • Contact

© 2023 FinCurrency - Global News

No Result
View All Result
  • Home
  • News
  • Economy
  • Finance
  • Crypto
  • Technology
  • Terms and Conditions
  • Contact

© 2023 FinCurrency - Global News

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Terms and Conditions.