CryptoQuant: Bitcoin's rally may be constrained by the market value of stablecoins
On July 18th, CryptoQuant analysts pointed out that "the liquidity of stablecoins may limit the potential for a significant increase in the future price of Bitcoin. The market value of stablecoins has not yet fully increased, especially USDT, which is key to further increases in Bitcoin prices." The company added in a statement on Wednesday, "Although there have been some positive trends in the market value of stablecoins, the monthly growth of USDT's market value is still close to zero, which still suppresses the potential for further increases in Bitcoin prices."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meta, Microsoft earnings beat send stocks higher
Big Tech pulled US indexes back into the green Thursday, as investors waited for two more Mag 7 first-quarter reports after the bell
Robinhood eyes crypto diversification as trading strength persists
CEO Vlad Tenev calls expected clarity on listing crypto asset securities “a big opportunity”
Moonshot is now available on Hosico cat
Official 'Black Mirror' Token Turns Social Credit Into Crypto Game
Trending news
MoreCrypto prices
More
