CandleFocus Bitcoin Bull Run To Resume Soon? Crypto Market Liquidity At Record Highs
2024-10-13
Author: Content Editor
Liquidity in the cryptocurrency markets has reached an all-time high, according to on-chain data. This has sparked discussions about the potential for the Bitcoin bull market to resume. The measurement of liquidity is based on stablecoin value and market capitalization, which currently stands at around $169 billion. The two largest stablecoins, USDT and USDC, dominate the market with market shares of 71% and 21% respectively. The market capitalization of these stablecoins has grown significantly in 2024, with USDT increasing by 30% and USDC by 44% year-to-date. The record-high balances of stablecoins on exchanges, particularly USDT, indicate growing market liquidity and potential buying power for investors. This has led some to speculate about the Bitcoin bull run resuming soon. However, it's important to note that while stablecoin balances have been increasing, Bitcoin's price has remained relatively stable.
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