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Stablecoins

Are the stable coins paving the way to the moon for BTC?Previously I made an observation that the #BTC price has been trading around the same levels since early 2021, while the stablecoins market cap has seen an increase from 50 to around 170 billion. This is money already in the space that's ready to engage. If you study the BTC to USDT correlation, you will find that when new USDT is minted, Bitcoin price moves to the upside. We also had a single event of 2018 when a big portion of the USDT supply was burned that was literally days before the final capitulation to 3,200$. A clever observation was done while discussing the topic that a big portion of the newly minted stable coins are actually locked in DeFi and not necessarily waiting to stack sats. So I decided to check what the data. Due to limitations, I will just post the raw data: Market Cap: USDT:78.66 billion Locked:18.9 billion, 23% USDC:48.23 billion Locked: 9.7 billion, 41% BUSD:14.16 billion Locked: 0.2 billion, 1.4% DAI:9.3 billion Locked: 4.9 billion, 52.6% UST:11.2 billion Locked: 5.6 billion, ~50% StableCoins count locked in smart contracts is 39.3/160-170 billion or ~ 23.8 %. Meaning, we still have around 125 billion of #stablecoins, which by itself is way more than the 50 billion in Jan 2021, while price remained the same. That's a divergence I find this to be incredibly bullish because of the tight correlation of Bitcoin price and stable coins. Of, course, confluence with other data is always a plus. Don't trust me blindly. Follow me on twitter for more frequent updates.
BITSTAMP:BTCUSDLong
by FiveMillionMax
6
The Celcius bubbleDear investors, I'm also a user of the celcius network staking platform. and like most of you people i'm looking into buying some celcius tokens, to get more % on my crypto. But looking at the growth of this project, i'm not really sure this is the moment to buy. Crypto is volatile and people tend to forget this sometimes. I really don't know what's next for the celcius token, A big fall? It will come, but how high will it go? This reminds me a little bit of the crypto.com token, people invested lot's of money into it, to get the best % return and the token felt pretty hard in september. With these project I've always seen a big fall afterwards, will this be different? let's see what time brings. For now, i'm just keeping 10% on my stablecoins.
HITBTC:CELUSD
by TheTradingTraveller
8