Tether USDt

Read

<html>
 <head></head>
 <body>
 Sharks and whales have accumulated stablecoins while bitcoin consolidates between $30,000 and $31,000. 
 According to Santiment, <a href="https://crypto.news/price/dai/" rel="noopener noreferrer nofollow">DAI</a> and paxos standard (<a href="https://crypto.news/price/pax-dollar/" rel="noopener noreferrer nofollow">USDP</a>) addresses holding between $100,000 and $10 million stablecoins have risen significantly since June 27. 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 🐳🦈 Sharks and whales are watching the $30k to $31k <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> price ranging, just like the rest of traders. And it appears that they are accumulating <a href="https://twitter.com/hashtag/stablecoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#stablecoins</a> like <a href="https://twitter.com/search?q=%24USDP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDP</a> &amp; <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$DAI</a> quite rapidly, which increases the probability of future big <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#crypto</a> buys. <a href="https://t.co/IsW0xJFsd9" target="_blank" rel="noopener noreferrer nofollow">https://t.co/IsW0xJFsd9</a> <a href="https://t.co/wkrr0bDQGL" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/wkrr0bDQGL</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1679279306730778625?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 12, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
 </figure> 
 Moreover, the market intelligence platform states that investors have already added 2% of DAI’s total supply since June 27. 
 Similarly, sharks and whales have added around 11% of the USDP supply since July 2, showing rapid growth. Usually, when investors turn to stablecoins, according to Santiment, there’s a possibility of a bull run in the near future. 
 On the other hand, the market capitalizations of the top stablecoins are already down. <a href="https://crypto.news/price/tether/" rel="noopener noreferrer nofollow">USDT</a> and <a href="https://crypto.news/price/usd-coin/" rel="noopener noreferrer nofollow">USDC</a> market caps are down by 0.03% and 0.49% in the past 24 hours. Their 24-hour trading volumes have seen notable hikes — marking 12.6% and 10.1% surges, respectively. 
 You might also like: <a href="https://crypto.news/tether-issues-1-billion-usdt-on-tron-market-dominance-at-65/" rel="noopener noreferrer nofollow"> Tether issues 1 billion USDT on Tron, market dominance at 65% </a> 
 DAI and USDP have also witnessed a downfall in their market capitalizations, down by 0.11% and 6.6% in the past 24 hours — roughly $4.65 billion and $615 million at the time of writing. Unlike USDT and USDC, DAI and USDP’s trading volumes have also turned red. Their caps are currently at $67 million and $1.3 million, respectively. 
 On July 12, Tether Treasury <a href="https://crypto.news/tether-issues-1-billion-usdt-on-tron-market-dominance-at-65/" rel="noopener noreferrer nofollow">minted</a> 1 billion USDT tokens on the Tron network, raising its market dominance to 65%. The second-largest stablecoin issuer, Circle, is eying to launch a stablecoin in Japan as new policies come into place. 
 Read more: <a href="https://crypto.news/circle-eyes-stablecoin-launch-in-japan-as-new-policies-take-effect/" rel="noopener noreferrer nofollow"> Circle eyes stablecoin launch in Japan as new policies take effect </a> 
 </body>
</html>

Sharks and whales turn to stablecoins, signaling bull run

crypto.news

Other articles published on Jul 13, 2023

Shiba Inu: Bulls and Bears Battle for SHIB Price Direction

MagicCraft Capitalizes on Google Play’s Blockchain Policy Update with the Blazy NFT Collection

July's Hottest Airdrops: Top 5 Crypto Giveaways for Exciting Rewards

Entering the New Era: The Sandbox Metaverse Begins to Open

Cardano (ADA) Needs 3 More Days for This to Happen

XRP flips BNB in 24-hour trading volume as action returns

Join our free newsletter for daily crypto updates!