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
PENGU Was Missed by Many—Grab BTFD Presale and Turn $100 into $12K: Best New Meme Coin to Join This Week!
Missed Pudgy Penguins? Don’t miss BTFD! With 11,900% ROI potential, 90% APY staking & a live P2E game, it’s the best meme coin to join this week!BTFD Coin Is Where Whales Feast—Get in Before the Final Blowout!Pudgy Penguins (PENGU) — You Delayed, It Blew UpConclusion: Timing Is Everything in Crypto!
Bitcoin's new all-time high has traders asking: Is BTC price overheating at $111K?
Hyperliquid hits $9,2 billion in contracts and HYPE hits $35 billion
Alchemy acquires HeyMint to power smart wallets with NFTs
Trending news
MoreCrypto prices
More
