Rising stablecoin supply sets the stage for the crypto market to see a strong Q3BTC $9427 (+1.9%) • ETH $246 (+3.7%) • XRP $0.20 (+9.3%)
Throughout the crypto market’s consolidation phase, the total supply of circulating stablecoins has been on the rise. Because this rise has come about independent of any type of notable selloff in the market, it appears that investors are pouring fresh capital into these digital assets. There are likely two primary factors causing this rise, including global investors looking to add USD exposure to their portfolios, and so-called “yield farmers” purchasing the stablecoins to tap into lucrative DeFi incentives. This trend has helped drive Bitcoin’s “Stablecoin Supply Ratio” (SSR) to new lows, potentially being indicative of a strong base that could help the entire crypto market experienced a strong third quarter.
More news ⏬Undercollaterized loans come to DeFi project Aave (LEND)
Just when you thought DeFi couldn’t get crazier, there’s now a method to burrow loans on zero capital. Thanks to our premium sponsors⭐️ XBTPro Exchange - $250 welcome bonus, zero fees on deposits, and very low trading fees. ⭐️ Cred - Cred is a global financial services platform serving customers in 183 countries. ⭐️ OKCoin - OKCoin is one of the world’s first and largest regulated crypto exchanges, with millions of users in more than 100 countries around the world. ⭐️ Paradox Group - Paradox is the Official Advertising Partners of CryptoSlate and specialises in Marketing and Blockchain Advertising. Synthetix Network Token (SNX) is about to face a sell-side liquidity crisis
The Synthetix Network Token (SNX) has seen a parabolic price surge over the past month as the decentralized finance sector sees some explosive growth. Kyber Network pools stake over $15 million just one day after launch
Kyber Network staking pools now lock over $15 million in user funds, signaling application health and strong long-term fundamentals for the company. Cardano (ADA) is now up more than 200% since the start of 2020: data
Even though Bitcoin and other top cryptocurrencies are stalling, Cardano’s ADA has continued to rip higher over recent days. Cardano and Litecoin founders to discuss cross-chain collaboration
While global businesses reeling from the implications of the ongoing pandemic, development is blooming in the cryptocurrency space. Founder of Compound votes against using wrapped Bitcoin as collateral, deems WBTC “risky”
Robert Leshner, the founder of Compound, has voted against the latest proposal to increase the WBTC collateral factor on the platform from 0 to 65 percent. Data analyst: Ethereum unlikely to rally until the end of the DeFi bull market
Ethereum’s stagnant price action has come about despite there being plenty of positive developments within the broader ETH ecosystem. IOHK could demonstrate Cardano’s multi-asset standard with Presidential campaign coins for Kanye West and Brock Pierce
Cardano could see Presidential coins issued on its platform in order to demonstrate its multi-asset standard, Charles Hoskinson said in his latest AMA. 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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