Stablecoin

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Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-reaches-new-high-as-stablecoin-inflows-indicate-investor-optimism/" data-wpel-link="internal">Bitcoin Reaches New High as Stablecoin Inflows Indicate Investor Optimism</a><br></p>
<p style="text-align: justify">Today, <strong><a href="https://coin-turk.com/son-dakika-beklenen-veriler-aciklandi-bitcoin-neden-yukseliyor" data-wpel-link="internal">Bitcoin</a></strong> (<a href="https://coin-turk.com/bitcoin-btc-ethereum-eth-ve-ripple-xrp-fiyat-analizi" data-wpel-link="internal">BTC</a>) soared to a new peak, reaching the highest level ever at $69,990. Despite a subsequent correction, stablecoin data indicates that investors are preparing for further price increases. In this context, there is an increase in stablecoin inflows to exchanges. Let’s look at the details.</p> 
<h2 style="text-align: justify" id="increase-in-stablecoin-inflows">Increase in Stablecoin Inflows</h2> 
<p style="text-align: justify">Stablecoin inflows have increased, particularly with the renewed price movement in the crypto market supported by spot <a href="https://en.coin-turk.com/is-the-bull-market-for-bitcoin-starting-this-metric-did-not-mislead-where-is-the-bitcoin-price-going/" data-wpel-link="internal">Bitcoin</a> exchange-traded funds (ETFs) in the United States. In March, the balances of <strong><a href="https://en.coin-turk.com/united-nations-issues-warning-on-tether-usdt-for-money-laundering-and-fraud/" data-wpel-link="internal">Tether</a></strong> (<a href="https://coin-turk.com/unlu-ceo-stablecoinler-merkeziyetsizlige-uzanan-kapi-olabilir" data-wpel-link="internal">USDT</a>) deposited into crypto exchanges rose by 6.5%, implying that investors are ready to increase their crypto assets in anticipation of Bitcoin’s continued rise.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325039 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/stablecoin-coin-turk-com-.png" alt="" width="802" height="372"></p> 
<p style="text-align: justify">Data from market intelligence firm Glassnode shows that assets in known crypto exchange wallets increased from $18.43 billion on March 1st to over $19.63 billion on March 8th.</p> 
<h2 style="text-align: justify" id="growing-market-value">Growing Market Value</h2> 
<p style="text-align: justify">Additionally, further information from market data provider CryptoQuant reveals an increase in both stablecoin balances and deposit transactions on cryptocurrency exchanges in the early days of March. These trends, along with the rise in spot <a href="https://en.coin-turk.com/the-final-stretch-for-spot-bitcoin-etf-approval/" data-wpel-link="internal">BTC</a> ETF performance and the upcoming halving of Bitcoin’s supply in about 41 days, have driven stablecoin reserves on exchanges to new highs.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325040 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/stablecoin-coin-turk-com-1-1.png" alt="" width="802" height="372"></p> 
<p style="text-align: justify">The total market value of stablecoins increased by 1.2% in March, reaching $145.2 billion, with Tether’s USDT comprising over 70% of this figure, holding a market value of $101.2 billion. The total trading volume of stablecoins was approximately $112.7 billion, with USDT accounting for $86.65 billion of it.</p> 
<h2 style="text-align: justify" id="positive-reflection-on-prices">Positive Reflection on Prices</h2> 
<p style="text-align: justify">Historically, increases in stablecoin inflows to exchanges and market value growth have served as reliable indicators of market participants’ positioning. Specifically, the increase in stablecoin inflows previously triggered Bitcoin’s rally in October 2020.</p> 
<p style="text-align: justify">The rise in stablecoin inflows to exchanges typically signals positive price movements in the crypto market, reflecting a resurgence of capital flowing into crypto assets. Analysts note that the pullback following BTC’s peak on March 5th may have prompted smaller investors to capitulate, but medium and large investors remained steadfast, indicating a bullish outlook.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325042 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-coin-turk-com-.webp" alt="" width="1897" height="977"></p> 
<p style="text-align: justify">As observed by market data tracking firm Santiment, the resilience shown by significant Bitcoin investors amidst the highest volatility ever points to a positive market sentiment. The combination of these factors suggests a promising trajectory for Bitcoin’s price movement in the near future.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-reaches-new-high-as-stablecoin-inflows-indicate-investor-optimism/" data-wpel-link="internal">Bitcoin Reaches New High as Stablecoin Inflows Indicate Investor Optimism</a></h5>

Bitcoin Reaches New High as Stablecoin Inflows Indicate Investor Optimism

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