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According to recent data released by 0xScope, Binance, the world’s largest cryptocurrency exchange, is facing a decreasing market share, where it currently sits at 51.2%. Other major players like Huobi, Gate and KuCoin have also experienced declines in their market shares during the same time period. A steady rise The Nov. 6 report highlights that
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Growing operational costs, lack of trust, and legal scrutiny mark massive losses for crypto market makers. The once lucrative crypto market making sector is navigating choppy waters, with soaring operational costs and a $2 trillion market slump.
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According to a Bloomberg report, Circle, a prominent player in the stablecoin market, strategically leverages its substantial cash reserves of over $1
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Tether’s market cap has been growing at the expense of rival stablecoins such as USD Coin, the report said. Source
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Shrinking crypto deposits by $8 billion to $10 billion and replacing them with wholesale borrowings costing around 4.25% will drive a significant reset in net interest margin in the coming quarters, said Usdin. While management plans to pay down some borrowings with core deposit growth, it will take some time
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The combined market cap of the largest stablecoins reached a peak of $186 billion in May, before the Terra/LUNA collapse, the note said. That compares with less than $30 billion at the start of 2021 and about $5 billion a year before that. Since May, the stablecoin universe has dropped
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Bitcoin (BTC) rose rapidly later on Aug. 26 as fresh economic data from the United States furthered hopes of a pivot from the Federal Reserve.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin bounces but preserves intraday trendData from Cryptox Markets Pro and TradingView tracked a 3.55% rise for BTC/USD on the day,
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In a widely anticipated move, the Federal Reserve raised the official U.S. interest rate by half a percentage point, while saying it will reduce the size of its balance sheet by $47.5 billion a month for three months, and going up to $95 billion a month starting in September, according
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With the release of the minutes this month, the Fed is laying the groundwork for its upcoming meeting on May 4-5, signaling traders what to expect in the coming months, which is why the impact of the central bank’s decisions can already be seen now. Original Source
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This year has been marked by numerous lows for bitcoin. The digital asset has seen yearly lows in the exchange reserves, transaction fees, and now, the short-term supply of bitcoin is down. The short-term supply has been shrinking for the past year. With declining volumes showing trends that have not
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