Stablecoin Analytics: Clues to Upcoming Crypto Market Surge

According to the analytical company Santiment, the on-chain data of the top two stablecoins by market value could give a hint as to when the cryptocurrency markets might accelerate for another price increase. Critical Situation in Stablecoins! In a new analysis, Santiment stated that analysts should monitor the supply of Tether (USDT) and US Dollar Coin (USDC) on exchanges. The reasoning behind this is that it may suggest that “something is developing” in the prices of cryptocurrencies. Santiment commented on the matter in their reports: “Particularly, the supplies of USDT and USDC could be rapidly moved to exchanges, just as we saw with USDC in March, right before price increases across the market.” The analytic firm also pointed out that analysts need to pay attention to whether the top 10 USDT and USDC addresses are adding more stablecoins. Furthermore, Santiment suggested that investors should monitor the average dollar investment age […] The post Stablecoin Analytics: Clues to Upcoming Crypto Market Surge appeared first on COINTURK NEWS.