3 Altcoins
In just a matter of 30 days, the narrative has changed from bearish to bullish in the cryptocurrency market. Long red candles have been replaced by green ones and top assets have been flashing double-digit growth. Alongside, the stablecoin market cap has been on the rise lately, indicating that the market is likely gearing-up for another leg up. A recent tweet by IntoTheBlock affirmed that the on-going trend points towards “increasing demand.” Prior to any full-fledged bull run, market participants usually amass stablecoins. Once they get the trend-bias confirmation, they start diverting them toward assets. Thus, the recovery of the said metric can be viewed as a step in the right direction. After declining for 10 months, the market cap of #USDT, #USDC and #DAI shows a monthly increase. 👉The total amount of stablecoins impacts liquidity available in the crypto space 👉Stables market cap bottomed a week after FTX and began increasing, pointing to in...