Bitcoin Retail Investors To Resume Buying? Rising TRC-20 USDT Reserves Suggest
The crypto market has been showing signs of recovery, with the Bitcoin price trying to reclaim the psychological $70,000 over the past few days. Interestingly, the latest on-chain data suggests that the crypto market might just have the required liquidity to kickstart a resurgence. Stablecoin Inflows Surge During Key Support Retest In a recent QuickTake post on the CryptoQuant platform, market analyst CryptoOnchain revealed a dramatic increase in TRC-20 USDT balances on Binance, the largest cryptocurrency exchange by trading volume. Quoting data from CryptoQuant’s data, the on-chain....
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Bitcoin fell from about $60,000 to nearly $50,000 this week, but it has not deviated retail interest, according to Robbie Liu of OKEx. The investment analyst cited renewed buying activity near the $50,000 level among retail investors, confirmed by the rising long/short ratio and the rising USDT premium in the Asian market. The long/short ratio […]
Bitcoin retail buying rates have been surging in recent times. These metrics show how much Bitcoin retail investors are buying and at what prices they are purchasing these tokens. Now, this metric had hit a previous all-time high in 2017/2018 right at the peak of the bull market at that point. Since the same thing is happening once more and retail investors are ramping up purchases, it remains to see whether this will correlate with another bull rally that sends the digital asset towards a new all-time high. Retail Investors Ramp Up In a chart that was posted to Twitter, market analyst....
On-chain analysis shows that retail buying is accelerating while whale supply is declining.
Terra (LUNA) has been aggressive about filling up its reserves with trusted cryptocurrencies to serve as a backup for its stablecoin UST. This has evolved over time to include a number of various cryptocurrencies that now make up its reserves sitting at $2.38 billion. This is still a long way from where the Luna Foundation plans for its reserves to be, making it a work in progress. In this report, we take a look at these reserve currencies and the portion allocated to each one. Diving Into Terra’s Reserves As mentioned previously, Terra’s crypto reserves have gone up to as high as $2.38....
The fallout from Terra’s collapse continues as outflows from Tether (USDT) hit an average of $1.1 billion a day over the past week. Cryptocurrency investors and traders have cashed out $7.7 billion from the stablecoin Tether (USDT) resulting in its market capitalization falling by 7.8% over the past seven days to $76 billion.The amount withdrawn from the top stablecoin is nearly double the $4.1 billion it held in cash reserves at the end of 2021 according to Tether’s latest reserves report from December 2021.To maintain Tether’s peg with the US dollar the company behind the token backs....