Stablecoin boom doesn’t guarantee Bitcoin price will explode higher: economistsBTC $7103 (+3%) • ETH $181 (+4.8%) • XRP $0.19 (+1.5%)
With Bitcoin seemingly finding a local top, all eyes in the crypto space have migrated to stablecoins, digital assets tied to and backed by a “stable” reserve asset. Although present in the cryptocurrency industry for 2017 and 2018, the assets have become increasingly important to the market over the past few months, as they’ve grown in supply. In fact, per recent data from blockchain analytics firm Coin Metrics, the value of all stablecoins in circulation just passed over $9 billion for the first time ever. What’s especially interesting about this stat is six weeks ago, the aggregate value of all stablecoins was $6 billion. That’s 50 percent growth in a multi-billion-dollar statistic within a month and a half, making it clear that it isn’t only central banks that are having their money printers operating at full speed. More news ⏬Popular crypto derivatives exchange FTX launches oil futures—here’s what this means for crypto
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Bitcoin has once again found itself caught in the throes of another period of consolidation as the benchmark crypto trades just a hair above its key near-term support at $6,800. Ethereum is the big winner of massive stablecoin growth as issuance hits record number
Ethereum has seen tremendous growth throughout the past several years, onboarding a significant amount of noteworthy decentralized applications to its blockchain while also enabling the growth of a billion-dollar DeFi ecosystem. What else?🌦 Here’s why simulations of Bitcoin’s post-halving price may disappoint investors 🚢 Data shows the community of Chainlink “marines” is growing exponentially 🇰🇷 This top crypto company is returning to work as South Korea coronavirus outbreak slows 🗻 With Cardano’s (ADA) Shelley on the way, long-term plans are being set Featured sponsors🎬 ChainFlix - ChainFlix is a revolutionary blockchain-based P2P video streaming platform that allows viewers, content creators, and enhancers to monetize their time, contents, and efforts. In the Chainflix platform, coins are to be mined during the video-viewing process, and all participants in the system (content creators and activators, storage providers, viewers, operation participants and advertisers) are organically connected in a way to ensure user-oriented operation and fair distribution of blockchain-based and PoA algorithm-mined coins among the participants. Learn more ☁️ Bitcoin Wallet - Bitcoin Wallet is a cloud-based mobile and desktop cryptocurrency storage and exchange app with a focus on security, speed and convenience. Bitcoin Wallet allows you to use any coins, tokens and blockchains without any restrictions and limits. Learn more 💳 Crypto.com - Founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity. With over 1 million users on its platform today, Crypto.com provides a powerful alternative to traditional financial services, turning its vision of ”cryptocurrency in every wallet” into reality, one customer at a time. Learn more 📈 AMFEIX - AMFEIX groups investors' funds into a pool that is managed by experienced traders on liquid exchanges. Our team of professional technical traders and analysts execute open market operations on a daily basis and make profits from the volatility. Learn more Want to be seen here? Contact us Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.
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