Despite the clarification made, @Tether_to didn't seem to be able to retain its users as the No.1 #stablecoin market cap has fallen under $70B, reaching its lowest point since October 2021.
$USDT $USDC $BUSD $DAI $FRAX $TUSD
Data from @santimentfeed also suggested that big investors were staying away from $USDT since the addresses with $100k to $10M in $USDT had plunged by -50.5% of their coins, showing signs of holding less percentage of supply.
@intotheblock data suggested a potential bottom as it spotted the largest #BTC inflow since Feb.
Jun 16 • 7 tweets • 5 min read
The second financial quarter of 2022 witnessed the first-ever drop in #stablecoin supply from the beginning of cryptoverse, according to @coinmetrics Head of R&D @LucasNuzzi.
This was caused by multiple factors, as...
Data from @cryptoquant_com pointed out that the total supply of stablecoin had a freefall on May 14, which might have been a result of whales' effort to exit the market following $USDT's depegging.
According to on-chain analytics platforms, 7B $USDT were wiped out.
Jun 15 • 17 tweets • 20 min read
We have entered very rough waters as $BTC got lower than $20,700. Today in #Coin360 Daily Digest 👇
0/ June 8 - 14 was severe for crypto and the broader financial markets as the U.S. CPI resulted in a strong reaction.
$BTC recorded red candles every day from June 7, which meant there was not enough buying power. The intensified sell-off on June 13 caused a $4,100 loss for it. 1/ In this period:
$BTC briefly touched $20.8k, falling by 29% in a week
$ETH traded below $1.2k, down ~75% from ATH
The total crypto market cap dropped below $1T
The Crypto Fear & Greed index touched 8 points
Over 240,000 traders suffered from losses in $1.3B crypto liquidations