Coinbase: USDC supply has increased by more than 14% since early December
Coinbase stated in a research report that USDC, the second largest stablecoin in terms of market value, is making a comeback with increased global liquidity and rapidly growing usage outside of the United States, leading to a sharp increase in supply in recent months. Analysts David Duong and Li Liu wrote: "Since December 1, 2023, the supply of USDC has increased by 14.3%, exceeding $3.5 billion, bringing its total market value to $28 billion, while the increase in USDT during the same period was smaller, at 8.7%." USDT is a competitor of Tether, a stablecoin based on the US dollar and the largest stablecoin to date, with a market value of $98 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
