ETF Buying Three Times More Bitcoin Supply than New Bitcoin Supply – Here’s What You Must Know
Bitcoin approaches $69,000 with traders optimistic about continued gains, supported by favorable economic policies and strong ETF inflows.
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Bitcoin approaches $69,000 with traders optimistic about continued gains, supported by favorable economic policies and strong ETF inflows.
Solana's layer-1 blockchain sees stablecoin supply surpass $3 billion, marking 55.72% growth in three months. USDC leads with 73% dominance, reflecting increased liquidity and capital influx. Factors include meme coin frenzy and expanding DeFi activity. Solana's growth signals its pivotal role in digital asset transactions.
Circle discontinues support for USDC on Tron blockchain, citing trust and safety concerns. Immediate halt in USDC minting on Tron; retail users urged to transition to other networks. Decision follows scrutiny over Circle's ties to Tron founder amid legal actions.
Stablecoin issuer Circle is bringing USD Coin (USDC) to the Celo (CELO) blockchain, fostering a strategic alliance to enhance stablecoin accessibility. This move aligns with Celo's vision of becoming a leader in real-world adoption, showcasing potential for further innovations in the evolving crypto landscape.
Approximately 57% of Bitcoin remains dormant for over two years, held by Long-Term Holders (LTHs) setting consecutive highs. This resilient group showcases strong conviction, potentially influencing Bitcoin's supply dynamics. The recent approval of Bitcoin spot ETFs by the US SEC and a decline in BTC stored on exchanges further suggest a supply squeeze. Bitcoin is trading around $45,900, reflecting a 4% increase in the past week. Traders monitor these trends for potential impacts on Bitcoin's price movements.
Irys plans to fork Arweave, resetting token supply, a move criticized by Arweave's founder as short-sighted and greedy.
The announcement, dated August 24, explains that the nation faced a parched climate during the initial half of 2023, leading to intensified heat that subsequently amplified the demand for electricity.
USDC has regained its $1 peg.
The total USDC supply on Ethereum has surpassed that of Tether, making the USDT supply on Ethereum second for the first time.
Despite the bearish backdrop for the entire crypto industry, the total stablecoin supply has reached $180 billion, a surge of $9.5 billion over the past 30 days.