The stablecoin market is on track to shrink for the 14th consecutive month, a sign of capital draining from the digital asset space, and a troubling trend for the recovery of cryptocurrency prices.
The total market capitalization of stablecoins dropped to $130 billion in May, falling to the lowest level since September 2021, digital asset data firm CCData noted Tuesday in a market report. The stablecoin market has been in a continuous decline since March 2022, per CCData.are a subset of cryptocurrencies that peg their price to an external asset, predominantly to the U.S. dollar.
Analysts argue that the contraction of the stablecoin market poses headwinds for cryptocurrency prices, as it signals deteriorating liquidity. “Stablecoins are the liquidity of the crypto ecosystem. The more liquidity, the more ability for investment and speculation,” Tom Dunleavy, macro analyst said in a note to CoinDesk. “The continued reduction, despite the growing number of applications, says to me we are still not out of the woods for this secular bear market.”
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Stock Market News Today: Biden and McCarthy due for debt-ceiling talksUS stocks trade mixed as Biden and McCarthy are due to meet on debt-ceiling talks
続きを読む »
Stock market today: Dow falls 140 points as investors await debt ceiling deal By Investing.com*U.S. STOCKS END MIXED AS INVESTORS AWAIT DEBT CEILING DEAL $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
続きを読む »
Stock rally isn't a new bull market, Morgan Stanley's Mike Wilson saysDon't be fooled into thinking this year's stock rally is the start of a new bull market, Morgan Stanley's top strategist says
続きを読む »
A sprawling coastal Texas ranch hits the market near Powderhorn wildlife areaThe 1,352-acre Powderhorn North Ranch in Calhoun County, near the town of Port O’Connor, is a working cattle ranch with pastures for grazing, working pens and...
続きを読む »
High-end Valley market and café opening in empty Walgreens buildingHera Ambrosio has spent nearly two decades working in the restaurant business in that specific part of Scottsdale and said that the neighborhood needed a small market, convenience store and local coffee shop.
続きを読む »