{"id":214200,"date":"2023-12-17T02:38:55","date_gmt":"2023-12-16T21:08:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=214200"},"modified":"2023-12-17T02:38:55","modified_gmt":"2023-12-16T21:08:55","slug":"stablecoin-market-cap-flashing-positive-sign-for-crypto-liquidity-according-to-analytics-firm-intotheblock-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/stablecoin-market-cap-flashing-positive-sign-for-crypto-liquidity-according-to-analytics-firm-intotheblock-crypto-news\/","title":{"rendered":"Stablecoin Market Cap Flashing Positive Sign for Crypto Liquidity, According to Analytics Firm IntoTheBlock – Crypto News"},"content":{"rendered":"

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Prominent analytics firm IntoTheBlock says the market capitalization of all stablecoins is on the rise, signaling an increase in the buying power of crypto market participants.<\/p>\n

The total value of all stablecoins looks primed to rise in December for the second month in a row after declining for a year and a half straight, which IntoTheBlock says<\/a> is a \u201cpositive sign for crypto liquidity.\u201d<\/p>\n

Source: IntoTheBlock\/X<\/figcaption><\/figure>\n

IntoTheBlock also looks at Bitcoin\u2019s exchange netflows, which tracks the Bitcoin (BTC<\/a>) moving in and out of centralized crypto exchanges by subtracting the amount of a coin\u2019s withdrawals from its deposits.<\/p>\n

Bitcoin recorded<\/a> $860 million worth of net inflows into exchanges this week, the largest number in nine months, according to the analytics firm.<\/p>\n

A\u00a02021 study\u00a0published<\/a> by crypto analytics firm Santiment indicates large upticks in exchange inflows tend to lead to an average price drop of 5% for crypto assets.<\/p>\n

Conversely, however, IntoTheBlock notes<\/a> that whales accumulated 22,000 BTC this week as Bitcoin dropped to $41,000.<\/p>\n

Says the firm,<\/p>\n

\u201cThis highlights their belief in Bitcoin\u2019s long-term value despite market dips.\u201d<\/em><\/p>\n

\"Image\"
Source: IntoTheBlock\/X<\/figcaption><\/figure>\n

Bitcoin is trading at $42,248 at time of writing, a decrease of 1.70% in the last 24 hours.<\/p>\n

IntoTheBlock also notes<\/a> that Ethereum\u2019s (ETH<\/a>) fees have remained at high levels this week, which has impacted the second-largest crypto asset\u2019s supply.<\/p>\n

\u201cWith over 35,000 ETH burned in the past seven days, Ethereum maintains its negative net issuance trend that began in early November.\u201d<\/em><\/p>\n

\"Image\"
Source: IntoTheBlock\/X<\/figcaption><\/figure>\n

Ethereum is trading at $2,251 at time of writing, down 1.80% in the past day.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Prominent analytics firm IntoTheBlock says the market capitalization of all stablecoins is on the rise, signaling an increase in the buying power of crypto market participants. The total value of all stablecoins looks primed to rise in December for the second month in a row after declining for a year and a half straight, which […]<\/p>\n","protected":false},"author":2,"featured_media":214201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-214200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/214200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=214200"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/214200\/revisions"}],"predecessor-version":[{"id":214203,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/214200\/revisions\/214203"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/214201"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=214200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=214200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=214200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}