Stablecoins See Positive Momentum: Will This Lead To New Bitcoin All-Time High?
01 Febbraio 2025 - 4:30AM
NEWSBTC
Data shows the stablecoins USDT and USDC have been seeing capital
inflows recently, something that could turn out to be bullish for
Bitcoin. Top 2 Stablecoins Have Seen Their Market Caps Grow
Recently In a new post on X, the on-chain analytics firm Santiment
has discussed about the latest trend in the market caps of the top
two stablecoins: USDT and USDC. Below is the chart shared by the
analytics firm, that shows the data for the 30-day change in the
market caps of the two cryptocurrencies. As is visible in the
graph, the 30-day percentage change in the market cap of USDC has
spiked to sharp positive levels recently, implying that the
stablecoin has been growing at a rapid rate. Unlike USDC, which has
seen sustainable growth for the last few months, USDT kicked off
the year 2025 with its 30-day market cap change dipping into the
negative territory. Since bottoming at around -2% earlier in the
month, though, momentum has returned for the asset as the indicator
has just turned back green. Related Reading: Bitcoin HODLer Selloff
Extends To 1.1 Million BTC As Profit-Taking Continues This means
that at present, both of the two stablecoin giants are enjoying an
increase in their market caps. Historically, growth in these
fiat-tied tokens is something that has been bullish for Bitcoin and
other volatile cryptocurrencies. The reason behind this is the fact
that investors who store their capital in the form of stablecoins
generally plan to invest into the volatile side of the market
eventually. When they buy BTC with their stables, its price
naturally receives a positive effect. The most bullish scenario for
the sector occurs when both Bitcoin and the stablecoins witness a
rise in their market caps. Such a setup implies both sides of the
market are getting net capital inflows. When only one rises while
the other goes down, it means capital is merely seeing a rotation
between the two. The recent inflows into USDT and USDC have come
while BTC has been consolidating sideways. This suggests the
capital entering into the stables is fresh, as BTC would have gone
down if it was otherwise. At the same time, BTC itself isn’t seeing
any direct inflows, hence the flat price action. Related Reading:
Ethereum MVRV Forms Signal That Last Led To 40% Price Crash
Usually, stablecoin holders deposit to centralized exchanges when
they want to purchase the volatile cryptocurrencies. Thus, the
number of stable deposits into these platforms can tell us about
whether large-scaling buying of this type is happening or not. An
analyst has shared the data for the metric in a CryptoQuant
Quicktake post. From the above chart, it’s apparent that the
indicator is following a flat trajectory right now. An increase in
it, like the one witnessed earlier, may provide fuel for a further
rally for Bitcoin. Bitcoin Price At the time of writing, Bitcoin is
floating around $104,800, down 1% in the last week. Featured image
from Dall-E, CryptoQuant.com, chart from TradingView.com
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