Cryptocurrencies Market Stats To Have A Great Day End
By Rubika Ventures on Altcoin Academy
Hours ago you will have read that:
- Paxos is launching PAX Gold, the easiest way to own and trade physical GoldOffers Investors;
- Also that Marshall Islands will replace the US dollar with digital currency;
- and Traders can negotiate off-exchange crypto trades on Gemini’s;
So, with those brief news, we want to show you the latest market statistics for the last hours.
Demand For ETH On DeFi Applications Grows
According tradeblock.com, since the inception of DeFi platforms, the amount of ETH added as collateral across these applications has increased significantly.
In the figure below we diagram, the amount of ETH collateralized across DeFI platforms in the last year.
As shown, the amount of collateral across DeFi platforms has decreased recently after hitting an all-time high earlier this year.
While DeFi demand grows, the new issuance supply of ether has decreased over time.
Coin Metrics Stablecoin Summer Review
Paxos (PAX), USD Coin (USDC), and Dai (DAI), all exhibited strong growth over the last three months, while Gemini Dollar (GUSD) declined according to coinmetrics.
The total number of addresses that hold at least $10 worth of an asset can be used to get an approximate measure of total users.
Additionally, Tether remains the dominant stablecoin in terms of overall users.
Anther point is that Tether supply all grew over the summer, while DAI, TUSD, and GUSD all declined.
However, similar to addresses with at least $10, Tether still dominates all other stablecoins in terms of the total supply.
In the chart, DAI, GUSD, and Tether all experienced relatively volatile periods over the last three months, while PAX and USDC were more stable.
Sentiment And Total Market Capitalization
In general, there is a feeling of calm or neutrality in the market. alternative.me continues to show 41 points, which means that the community remains in a state of caution.
In other hands, over the past hours, total market capitalization rose to a high around ~$271.9 billion earlier in the morning, before dropping back down to the ~$267 billion levels where it currently remains, according to coinmarketcap.com.
Most coins are seeing losses in the ~1–2% range. 24-hour daily volume registering ~$52 billion.
Bitcoin And Dominance
Bitcoin is currently trading at ~$10,590, up ~0.4% over yesterday.
Bitcoin dominance continues to break 24-month highs and is currently standing at ~71%. Take care!
But But Binance believes he can return to 60% in the coming months, as he did in its last report.
Anyway, on the daily chart, Bitcoin continues to be trading above its 21, 50 and 100-day EMA lines, and RSI is at ~54.
However, the funniest thing is that Bitcoin crossed $10k nearly 20 times this summer, as said skew, which may indicate a strong resistance.
A large number of purchase and sale negotiations are being concentrated in this area, which we colloquially call the accumulation zone.
Disclaimer: In no way does this article recommend the purchase of any assets, this is a personal opinion of the author. Investment in cryptocurrency is extremely risky and volatile. Also, if you are an investor, always do your own research before investing in anything!
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