Coin

<ul class="news-points"> 
 <li><strong>Santiment revealed that the collective stablecoin market cap surged during the past week.</strong></li> 
 <li><strong>According to the post, the stablecoin market cap recorded its 2nd largest 2-day rise since June this year.</strong></li> 
 <li><strong>Santiment attributed BTC’s rise above $30K to the increase in investors’ buying power.</strong></li> 
</ul> 
<p>The blockchain intelligence platform, Santiment, revealed in an X post that the combined market caps of stablecoins surged during the past week. According to the post, this increased buying power is what allowed <a href="https://coinedition.com/ripple-cto-explains-complex-bitcoin-block-timing-via-analogy/">Bitcoin (BTC)</a> to rise above the $30K mark. Santiment predicted that <a href="https://coinedition.com/bitcoin-btc-price-prediction/">BTC’s price</a> could continue to rise as long as whales accumulate stablecoins.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"> The combined market caps of <a href="https://twitter.com/hashtag/stablecoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#stablecoins</a> <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDT</a>, <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDC</a>, <a href="https://twitter.com/search?q=%24BUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BUSD</a>, <a href="https://twitter.com/search?q=%24DAI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$DAI</a>, <a href="https://twitter.com/search?q=%24TUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$TUSD</a>, &amp; <a href="https://twitter.com/search?q=%24USDP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDP</a> surged this past week, increasing buying power that assisted <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a> to <a href="https://twitter.com/hashtag/30K?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#30K</a>. More sustained rises will come when whales accumulate stablecoins while <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> remains flat. <a href="https://t.co/Fh16oIzHUI" target="_blank" rel="nofollow">https://t.co/Fh16oIzHUI</a> <a href="https://t.co/UX9YjGZNJB" target="_blank" rel="nofollow">pic.twitter.com/UX9YjGZNJB</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1715472387532304791?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 20, 2023</a>
  </blockquote>
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</figure> 
<p>Further on-chain analysis showed that the collective stablecoin market cap recorded its largest 2-day rise since the middle of June this year. The also post revealed that this uptic…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/stablecoins-market-cap-surged-last-week-shows-on-chain-data/">Stablecoins’ Market Cap Surged Last Week, Shows On-Chain Data</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Stablecoins’ Market Cap Surged Last Week, Shows On-Chain Data

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