Money is flowing into crypto stablecoins for first time since collapse of 2022
The industry is seeing positive capital inflows again, recovering from the cataclysmic collapse of the Terra-Luna stablecoin last spring.
Stablecoins and U.S. dollar-pegged tokens are generating positive net capital inflows to crypto markets for the first time in more than a year, new Glassnode data shows.
During the past week, stablecoins like Tether, USD Coin, Binance USD, and Dai have all exhibited positive behavior during a 90-day period.
With price action for bitcoin resulting in higher prices - the world’s top-performing cryptocurrency jumped past $37,000 this month, with some crypto analysts on Twitter (now X) opining that bitcoin was primed to head toward $50,000 due to the upcoming bitcoin halving and the likelihood of the U.S. Securities and Exchange Commission approving a spot crypto exchange-traded fund (ETF). There are currently 12 applications awaiting approval from the regulator, and a decision is expected as early as November 17.
#ETH #BTC #etf #Binance
The industry is seeing positive capital inflows again, recovering from the cataclysmic collapse of the Terra-Luna stablecoin last spring.
Stablecoins and U.S. dollar-pegged tokens are generating positive net capital inflows to crypto markets for the first time in more than a year, new Glassnode data shows.
During the past week, stablecoins like Tether, USD Coin, Binance USD, and Dai have all exhibited positive behavior during a 90-day period.
With price action for bitcoin resulting in higher prices - the world’s top-performing cryptocurrency jumped past $37,000 this month, with some crypto analysts on Twitter (now X) opining that bitcoin was primed to head toward $50,000 due to the upcoming bitcoin halving and the likelihood of the U.S. Securities and Exchange Commission approving a spot crypto exchange-traded fund (ETF). There are currently 12 applications awaiting approval from the regulator, and a decision is expected as early as November 17.
#ETH #BTC #etf #Binance