to the head of Binance, Changpeng Zhao or simply CZ, the growing supply of stablecoins is bullish for cryptocurrencies in the long term, as it is the same money waiting"on the fence," and potential powder for a future rally.this from a slightly different point of view. In his opinion, the fewer stablecoins on the market, the better, because oversupply combined with lack of buyers can lead to a crypto market decrease.
At the same time, according to Clemente's model, if the amount of stablecoins in circulation starts to decrease, it will signal the growth of crypto assets. However, it is important to clarify that even within his analysis, the expert agrees with CZ in terms of the presence of a large number of stablecoins on the sidelines.Yesterday, all eyes were on Nancy Pelosi's flight. In the run-up to the flight, markets were declining, as no one knew the outcome.
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Source: CoinDesk - 🏆 291. / 63 Read more »