Tether PUMPING BTC!? Why Stablecoin Market Cap Matters!!
Hey Guys,
Not sure if you’ve noticed, but the total stablecoin market has been falling recently, and for some stablecoins it’s been falling fast. However, the market cap of Tether’s USDT just hit an all time high. WTF does it mean for the market?
This is a question I’ve been itching to answer, but I had to wait until there was a good enough reason. The announcement from Tether that it would begin buying BTC with a portion of its monthly profits was the perfect catalyst.
Believe it or not, but the impact of stablecoin market caps on the crypto market ultimately depends on the stablecoin in question. It seems that one of them is a good predictor of crypto prices. You’ll have to watch to find out which one.
Enjoy!
~~~~~
⛓️ 🔗 Useful Links 🔗 ⛓️
► Total Stablecoin Market Cap Declines: https://protos.com/stablecoin-market-...
► Tether To Buy BTC With Monthly Profits: https://cointelegraph.com/news/tether...
► USDC Is Dominant In DeFi: https://www.coindesk.com/markets/2023...
► Binance Converts BUSD To Other Cryptos: https://cointelegraph.com/news/binanc...
► Techteryx Given Control of Private Keys: https://protos.com/control-of-trueusd...
~~~~~
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
