How TUSD’s $1B addition can change the market

Over the last few months and most of the previous year, the stablecoin market has been afflicted with a fall in market cap. Needless to say, some unfavorable events contributed to this decline as skepticism spread around the ecosystem.

Furthermore, there seems to be chances that a part of the market was preparing to buy the dip. One reason for this is the decline in the supply outside of exchanges. This metric describes the number of coins kept in non-custodial wallets. When it comes to stablecoins, an increase suggests that participants are wary of accumulating other cryptocurrencies.So, the decline here means otherwise. This was further proven by the supply held by large-cap addresses. Based on on-chain data, this metric increased.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here’s how the market reacted to FLOKI Inu’s Metaverse additionBinance's decision to add FLOKI in the same category as AXS and MANA left the token in an aslope position.
Source: CryptoAmb - 🏆 22. / 68 Read more »

How LSD market remains resilient despite market turbulenceAmidst market volatility, Liquid Staked ETH protocols like Lido and Rocket Pool witness significant growth and revenue, paving the way for future expansion.
Source: CryptoAmb - 🏆 22. / 68 Read more »