Stablecoin Shenanigans: A Crypto Rally in Disguise?

Ah, the world of cryptocurrency, where stablecoins like USDC (Circle’s brainchild) and USD Tether (USDT) by Tether Limited are throwing tantrums, indicating, rather dramatically, a crypto rally on the horizon CryptoQuant, an on-chain analysis firm, seems to think so, even in the face of USDT’s delisting for EU users on major exchanges.

USDC and USDT: The Stablecoin Duo Sending Bullish Vibes, Courtesy of CryptoQuant

Over the last 30 days, both USDT and USDC, the two giants responsible for 87% of thecoin volume, have been showing off their positive capitalization dynamics. According to CryptoQuant, these trends might be harbingers of impending crypto price rallies. Imagine that!

When the liquidity impulse grows, a rally usually follows… If stablecoin momentum continues, higher prices may be next.

— CryptoQuant.com (@cryptoquant_com) January 30, 2

Read More

2025-01-31 16:56