{"id":15962,"date":"2024-07-19T09:08:08","date_gmt":"2024-07-19T09:08:08","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=15962"},"modified":"2024-07-19T09:08:08","modified_gmt":"2024-07-19T09:08:08","slug":"stablecoins-on-the-rise-potential-positive-impact-on-bitcoin","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/stablecoins-on-the-rise-potential-positive-impact-on-bitcoin\/","title":{"rendered":"Stablecoins On the Rise: Potential Positive Impact on Bitcoin"},"content":{"rendered":"\n<p>Analysis of on-chain data indicates a recent upsurge in the stablecoin market cap, which could bode well for Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Turning_Point_Stablecoin_Market_Cap_Shows_Growth\"><\/span>Turning Point: Stablecoin Market Cap Shows Growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to insights from CryptoQuant&#8217;s CEO Ki Young Ju, shared in a recent post on X, the stablecoin market cap has reached an all-time high, signaling a renewed uptrend.<\/p>\n<p>The chart provided by Young Ju illustrates the 30-day percentage change in the market cap of the largest stablecoin, Tether (USDT), over the past year:<\/p>\n<p><\/p>\n<p>Initially declining, the 30-day percentage change for USDT has recently turned positive, indicating a potential shift towards growth. This trend reversal historically has been seen as a positive indicator for Bitcoin.<\/p>\n<p>Stablecoins are often used by investors to safeguard their funds from cryptocurrency price fluctuations, with the intention of re-entering the volatile market. Hence, an increase in stablecoin market cap represents increased buying potential for assets like Bitcoin.<\/p>\n<p>The recent upswing in Tether&#8217;s market cap coincides with Bitcoin&#8217;s significant price recovery, suggesting fresh capital inflows rather than a mere reshuffling of funds from Bitcoin.<\/p>\n<p>With Tether now constituting approximately 70% of the total stablecoin market cap, a notable surge in capital inflows has propelled the overall market cap to new highs.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone aligncenter\" src=\"https:\/\/www.bitrabo.com\/discover\/wp-content\/uploads\/2024\/07\/Stablecoins-Growing-Again-Why-This-Can-Be-Bullish-For-Bitcoin.png\" alt=\"Stablecoin Market Cap Share\" width=\"834\" height=\"526\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoins_Price_Movement\"><\/span>Bitcoin&#8217;s Price Movement<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of the latest data, Bitcoin is trading at approximately $63,700, reflecting a more than 10% increase over the past week.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-medium aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/7MnXqX58\/\" alt=\"Bitcoin Price Chart\" width=\"1534\" height=\"854\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysis of on-chain data indicates a recent upsurge in the stablecoin market cap, which could bode well for Bitcoin. Turning Point: Stablecoin Market Cap Shows Growth According to insights from CryptoQuant&#8217;s CEO Ki Young Ju, shared in a recent post on X, the stablecoin market cap has reached an all-time high, signaling a renewed uptrend. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15963,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Stablecoins On the Rise: Potential Positive Impact on Bitcoin - Bitrabo","description":"Analysis of on-chain data indicates a recent upsurge in the stablecoin market cap, which could bode well for Bitcoin. Turning Point: Stablecoin Market Cap Shows"},"footnotes":""},"categories":[316],"tags":[448,446,535,2909],"class_list":["post-15962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-bullish","tag-growing","tag-stablecoins"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=15962"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/15963"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=15962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=15962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=15962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}