Related Reading: Bitcoin Investors Quiver As Accumulation Trend Nears Zero Crypto Bulls Build Stronger Price Floor Amid Weakening Selling Pressure According to Percival, the large influx into the stablecoin market does not only indicate market uncertainty but can also be interpreted as a positive sign of traders working to establish a stronger price floor as they perceive a diminishing selling pressure. Therefore, this trend can be viewed as a defensive strategy as these market participants wait out potential downturns before re-entering the market for future gains. At the time of writing, the total crypto market cap is valued at $1.92 trillion with Bitcoin holding a 54% market dominance with market shares valued at $1.15 trillion.
Related Reading: Analysts Predict The Start Of Crypto’s First Ever Secular Bear Market Open Interest In Crypto Market Shrinks As Stablecoins See Liquidity Influx Following a rather bearish week, the crypto market has seen an uptick in the last day with the total market cap rising 2.86% to attain a valuation of 1.92 trillion.
However, on a larger time scale, the nascent Industry is surrounded by levels of uncertainty resulting in significant levels of capital rotation among investors. According to Percival, levels of Open Interest in the crypto market grew by 54% between May and July with the stablecoin market cap declining by approximately 80% within the same period.
The story "Traders Move $4.7 Billion To Stablecoins Amid Crypto Market Uncertainty – Details" has 435 words across 63 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Traders Move $4.7 Billion To Stablecoins Amid Crypto Market Uncertainty – Details" was covered 1 days ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 1 news stories per day.
It's most recent story was published 1 days ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
