NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Positive Outlook for Market as Stablecoin Outflows Diminish

Published 05/15/2023, 11:00 AM
Positive Outlook for Market as Stablecoin Outflows Diminish

  • The Stablecoin market has exhibited resilience amidst market turbulence.
  • A decrease in outflows has signaled a potential for a bullish turnaround.
  • A significant exodus of stablecoins has triggered supply depletion.
The market's mood can often be deciphered by observing the ebb and flow of stablecoins. These digital assets, designed to maintain a steady value, are sensitive market sentiment indicators. Recent data has shed light on the behavior of stablecoins, offering valuable insights into the state of the market.

Analyzing the Netflow data provided by CryptoQuant has revealed that there has been a decline in stablecoin liquidity, as outflows have outweighed inflows.

However, data from Glassnode on May 13th showed a different perspective when considering the monthly supply change from a higher timeframe standpoint. It revealed a decline in stablecoin...

Continue Reading on DailyCoin

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.