A prominent analytics firm says one digital asset category with a soaring market cap could fuel a potential market recovery.<\/p>\n
IntoTheBlock says on the social media platform X that the market cap of stablecoins has risen to a new all-time high.<\/p>\n
While the analytics firm notes that a growing stablecoin market cap is a sign that traders are selling their coins in favor of dollar-pegged crypto assets, it also indicates<\/a> that a massive amount of capital is ready to be deployed once conditions turn bullish.<\/p>\n \u201cThe stablecoin market cap keeps growing, recently surpassing $220 billion.<\/em><\/p>\n While these tokens are widely used to sidestep volatility, it\u2019s hard to ignore how all that liquidity could become the spark for the next market upswing once sentiment flips bullish.\u201d<\/em><\/p>\n One stablecoin on IntoTheBlock\u2019s radar<\/a> is Ripple USD (RLUSD<\/a>), a dollar-pegged crypto asset launched just a few months ago.<\/p>\n \u201cRipple\u2019s new RLUSD stablecoin is gaining traction.<\/em><\/p>\n With a circulating supply reaching $160 million and a growing number of Ethereum mainnet addresses holding it, RLUSD appears positioned to become a notable player in the stablecoin space.\u201d\u00a0<\/em><\/p>\n Looking at Bitcoin, the insights firm says deep-pocketed investors are gobbling up BTC<\/a> after trimming their exposure for almost a year.<\/p>\n \u201cBitcoin whale balances have been trending downward for nearly a year, but March data hints at a possible reversal.<\/em><\/p>\n Whales now hold around 62,000 more BTC than they did at the start of the month, indicating renewed accumulation.\u201d<\/em><\/p>\n At time of writing, Bitcoin is trading for $84,039.<\/p>\n Follow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>   Generated Image: DALLE3<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" A prominent analytics firm says one digital asset category with a soaring market cap could fuel a potential market recovery. IntoTheBlock says on the social media platform X that the market cap of stablecoins has risen to a new all-time high. While the analytics firm notes that a growing stablecoin market cap is a sign […]<\/p>\n","protected":false},"author":2,"featured_media":384379,"comment_status":"closed","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-384375","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\/384375","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=384375"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/384375\/revisions"}],"predecessor-version":[{"id":384380,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/384375\/revisions\/384380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/384379"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=384375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=384375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=384375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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