There is a rising influx of capital into the
cryptocurrency market, notably through the consistent upsurge of the stablecoin Tether (USDT). This is
according to a report released by KuCoin Research, which highlighted that the
correlation between the issuance of USDT and the price of Bitcoin had reached
unprecedented heights.
This trend shows the strength of USDT in the stablecoin
sector and its role in market stability. KuCoin Research’s monthly market
insight paints a compelling picture of an industry characterized by increasing
institutional interest, a resurgent Bitcoin, and the soaring prominence of
stablecoins.
Besides that, there has been a heightened
participation by institutions and hedge funds in the cryptocurrency space since
mid-October 2023. This activity has strengthen the status of Bitcoin, propelling
Bitcoin futures and options’ open interest.
Moreover, KuCoin’s report has underscored the resilience
of the market, highlighting a boost in investments in November. This sector
witnessed an upswing in the number and value of investments.
Expect ongoing updates as this story evolves…
There is a rising influx of capital into the
cryptocurrency market, notably through the consistent upsurge of the stablecoin Tether (USDT). This is
according to a report released by KuCoin Research, which highlighted that the
correlation between the issuance of USDT and the price of Bitcoin had reached
unprecedented heights.
This trend shows the strength of USDT in the stablecoin
sector and its role in market stability. KuCoin Research’s monthly market
insight paints a compelling picture of an industry characterized by increasing
institutional interest, a resurgent Bitcoin, and the soaring prominence of
stablecoins.
Besides that, there has been a heightened
participation by institutions and hedge funds in the cryptocurrency space since
mid-October 2023. This activity has strengthen the status of Bitcoin, propelling
Bitcoin futures and options’ open interest.
Moreover, KuCoin’s report has underscored the resilience
of the market, highlighting a boost in investments in November. This sector
witnessed an upswing in the number and value of investments.
Expect ongoing updates as this story evolves…
