bitcoin vis a vis USDT+USDC market cap. cause and effect.it is our belief that USDT and lately USDC issuing contributed to the expansion of bitcoin price, in the same manner that M2 / fed balance sheet did contributed to SPX rise since long. henceforth, its currrent shrinking should cause BTC prices to fall alongside.
Stablecoins
UST Mcap (demand) continue to grow and Luna climbsLFG.org has released the third and final announcement regarding marketing, development grants/funding, and UST reserves. The one billion dollar investment in Bitcoin to serve as a back stop to UST comes at just the right time to support a general risk on mood after the February pull back.
Technically Luna has looked solid during the past few weeks. Finally breaking out to what I consider the bottom of its likely target range ~$73-$89.