Binance has for many years tried their own versions of buying US debt with USD made from selling a stablecoin of their own. This has been squashed nearly every time and has most likely hindered the flow on binance itself.
It seems binance may have blinked. USDC has been flooding into Binance this year maintaining often very high levels of relative volume. This flow is overall better than if neither party capitulated. Must be careful of different streams of volume fragmenting both bullish and bearish data. While USDT is seeing all time highs its market share is falling with the wider adoption of stablecoins on chain and in traditional finance.
All this is occuring as stablecoin regulation is being passed in the US https://www.tradingview.com/news/the_block:b2b7dc7fa094b:0-senate-votes-to-move-forward-on-landmark-stablecoin-legislation/ and Dimon says
JPM will be buying 
BTCUSD for clients soon
It seems binance may have blinked. USDC has been flooding into Binance this year maintaining often very high levels of relative volume. This flow is overall better than if neither party capitulated. Must be careful of different streams of volume fragmenting both bullish and bearish data. While USDT is seeing all time highs its market share is falling with the wider adoption of stablecoins on chain and in traditional finance.
All this is occuring as stablecoin regulation is being passed in the US https://www.tradingview.com/news/the_block:b2b7dc7fa094b:0-senate-votes-to-move-forward-on-landmark-stablecoin-legislation/ and Dimon says
JPM will be buying BTCUSD for clients soon 
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Trading Data Alerts >>> softquant.io
Trading Group 5 day FREE trial >>> discord.gg/jJG5EYA
More Info >>> thecryptocheck.com
Trading Group 5 day FREE trial >>> discord.gg/jJG5EYA
More Info >>> thecryptocheck.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.