Our data shows that a total of 1 billion $USDT (ERC20) was deposited to #Binance in the past two hours.
Note that #Tether has performed a chain swap from Tron to the ERC20 protocol, which effectively leaves the total #USDT supply unchanged.
Live chart | @glassnode
Note that #Tether has performed a chain swap from Tron to the ERC20 protocol, which effectively leaves the total #USDT supply unchanged.
Live chart | @glassnode
Last week saw $UST and $LUNA collapse, and the #Tether $1 peg come under pressure.
The #Bitcoin market sold off 21.2% in response, putting all 2021-22 investors in loss
Read our analysis of the impact the $UST and $USDT de-peg events had on the market.
The #Bitcoin market sold off 21.2% in response, putting all 2021-22 investors in loss
Read our analysis of the impact the $UST and $USDT de-peg events had on the market.
Our video analysis report on the $LUNA and $UST events from last week is now live.
We analyse:
- The hyperinflation of $LUNA and $UST collapse
- Sale of 80k $BTC by LFG
- #Tether de-peg and impact on stablecoins
- Realized losses at an enormous scale
Watch our video report here.
We analyse:
- The hyperinflation of $LUNA and $UST collapse
- Sale of 80k $BTC by LFG
- #Tether de-peg and impact on stablecoins
- Realized losses at an enormous scale
Watch our video report here.
YouTube
The Week On-chain - Unstable Coins + LUNA Hyperinflation - Week 20, 2022 (Bitcoin On-chain Analysis)
The Bitcoin market experienced a week for the history books, with the $40B LUNA/UST project hyper-inflating and collapsing, 80k BTC sold by LFG, the Tether $1 peg coming
under pressure, Stablecoin supplies contracting by $7.5B, and a near visit to the Realized…
under pressure, Stablecoin supplies contracting by $7.5B, and a near visit to the Realized…
Over the last two years, the dominance of #Tether has been in macro decline.
$USDT has fallen from 88.3% of the stablecoin market, to 45.2% today, now less than half of the market.
$USDC dominance has grown 4.2x, $BUSD by 7.5x, and $DAI by 3.9x over the same 2y timeframe.
Live Workbench
$USDT has fallen from 88.3% of the stablecoin market, to 45.2% today, now less than half of the market.
$USDC dominance has grown 4.2x, $BUSD by 7.5x, and $DAI by 3.9x over the same 2y timeframe.
Live Workbench