was to reach the inverse head & shoulder target :) Almost the same % when the #crypto market topped out last cycle. Will it? IDK! Should u wait to those low single digit numbers before u emabrk on profit taking? probably not. We shall keep an eye on this of course. Best of Luck
DOMINANCE DOWN CHANNEL A useful tool for the crypto investor. With yields on stablecoins collapsing, this sideline money either exits the space. Remains as a hedging tool or re-deploys into actual blockchain protocols and coins. #BTC, #ETH . #ALTS
Maker is up-trending for a month but printed 3 shooting stars in a row, looks likely to retrace down to 100EMA support. ⚡️⚡️ #MKR/USDT ⚡️⚡️ Exchanges: Binance Futures, ByBit USDT Signal Type: Regular (Short) Leverage: Isolated (5.0X) Amount: 5.0% Current Price: 1270.0 Entry Zone: 1285.0 - 1340.0 Take-Profit Targets: 1) 1186.0 2) 1091.0 3) 996.5 Stop...
USDC has just DE pegged, and in my opinion will experience a full on crash this coming week.
I want to share my thoughts on the current situation with stablecoins, specifically USDC, DAI, and FRAX. It is my belief that if USDC were to collapse, DAI and FRAX would follow suit, causing a significant crash in the entire crypto market. Recent developments support this concern. Binance has paused the automatic conversion of USDC to BUSD due to high inflows...
Stablecoin dominance going down as well, ofc since we are reaching a local higher high after a while :)
First bullish reversal in a long time since the protocol was down 92% ish from the top. Interesting signal here... Best of luck! Cheers, Ivan Labrie.
Will be interesting to see how these two will attract towards same price over time. Current target price is CPI $1.14 for both $ampl and $spot
Market capitalization in 2023 remains positive. Will we have a bullish rally, contradicting the disciples of Nostradamus?
Stablecoins are cryptocurrencies whose value is pegged, or tied, to that of another currency, commodity, or financial instrument. Stablecoins aim to provide an alternative to the high volatility of the most popular cryptocurrencies, including Bitcoin (BTC), which has made crypto investments less suitable for common transactions. (Investopedia) This graph shows...
This graph shows the ranking of stable coins, according to the Amount of Assets Held by Whales (some stable coins don't have this information here). Since May 02, 2022, BUSD has surpassed USDC in this indicator. USDT remains relatively stable, and DAI was below $2 billion. The PEG of these stable coins can be seen in this other analysis:
This is the Dollar dominance chart in the cryptocurrency world. It has an inverse correlation to Bitcoin and other cryptocurrencies that are not stable coins: The dominance index is exiting the bullish purple channel. However, it is still above the red support region. The scenario will be bullish if this dominance does not return to the purple channel, and...
I was monitoring mkr for a few days ago and this is one of the best zone for a short but don't forget the market is unpredictable always use the stop
In this graph we have the dominance of altcoins disregarding stable coins. The calculation is done as follows: TOTAL = Crypto Total Market Cap TOTAL2 = Crypto Total Market Cap excludes BTC USDT = Market Cap of stable coin USDT USDC = Market Cap of stable coin USDC DAI = Market Cap of stable coin DAI So: Altcoins Dominance % =...
Grayscale warning ahead of the Ethereum Merge: “issuers like Tether and CirclePay have stated that post-fork, only the tokens on the PoS (proof of stake) network will be redeemable”, so if the PoS-based Ethereum fork goes “live with a parallel DeFi ecosystem, collateralized with unredeemable stablecoins, users and smart contracts may attempt to liquidate positions...
Just remembering that the dominance of stable coins is inversely correlated to the price of other cryptocurrencies. When dominance rises, the price of Bitcoin, Ethereum and other cryptos commonly fall. We are on an ABC correction within the bearish leg of wave 5. The yellow circles demonstrate an important pullback region, where we are right now. The chart is...
Following the cryptocurrency market turmoil, the total supply of stablecoins has fallen quite significantly. This reportedly marks Q2 of 2022 as the first time in crypto history where the overall supply of stablecoins has decreased. Over the past month, the total supply of all stablecoins combined declined by more than 10 billion (equally +$10 billion), even...
Measured move into the mid 8% Definite possibility of over-performance to around 10% #USDC dominance is already over 4% of the total crypto market. Are we going to a bear market bottom with #stablecoins getting close to 20% dominance!