Matrixport: Stablecoin issuance provides support for crypto prices, shorting ETH is a good option to hedge BTC longs

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Cointime2024/04/08 06:24

By:Cointime

On April 8th, Matrixport posted on social media that the Tether minting activity shows an increase in the flow of fiat to cryptocurrency, which continues to support the price of cryptocurrencies. In the past 7 days, Tether's circulation has increased by $2 billion, even faster than at the beginning of January. In addition, Matrixport stated that it had previously criticized Ethereum's upgrade policy when analyzing the impact of each upgrade on the ETH price. With the end of the Dencun upgrade, Ethereum's market share has dropped from 19% to 16%. The organization recommends using an ETH short strategy as a hedge against a BTC long strategy.

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.

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