Coinmetrics stablecoins

According to CoinMetrics, many stablecoins, including USDC, Paxos Standard, Gemini Dollar, Tether, and the Binance Dollar, registered staggering numbers in terms of percentage growth of the total

Those found on only a few exchanges mean little retail activity apart from trading, while widely distributed tokens, like Tether ERC20, indicate broader usage. In the firm’s research, USDK stood out with its “strange” supply distribution. According to that report, the circulating supply of stablecoins had doubled to $12 billion. Then, Coinmetrics attributed the growth to an investor practice of converting volatile crypto assets to stablecoins when markets crash.

09.03.2021

Jun 12, 2020 · In fact, a recent CoinMetrics report had highlighted how stablecoins gained by over $1 billion and how Tether issued on Ethereum has had an increasing role to play. It had noted that. “Stablecoins have gained another $1B in market cap since the start of April. Feb 01, 2021 · CoinMetrics reports that its market share has climbed to its highest level of around 15%. According to stats from the company itself, there are 5.1 billion USDC in circulation though Coingecko reports it a little higher at 5.9 billion.

According to CoinMetrics, many stablecoins, including USDC, Paxos Standard, Gemini Dollar, Tether, and the Binance Dollar, registered staggering numbers in terms of percentage growth of the total

80% of all on-chain activity, as in the chart below). If a small number of accounts are responsible for most of the transactions, it shows a lack of use outside of a handful of exchanges.

Coinmetrics noted the supply distributions for all stablecoins assess their extend of usage. Those found on only a few exchanges mean little retail activity apart from trading, while widely distributed tokens, like Tether ERC20, indicate broader usage. In the firm’s research, USDK stood out with its “strange” supply distribution.

Mar 18, 2020 The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows.

Source: MYKEY, Coinmetrics. At present, the market circulation of major stablecoins is about $11.286 billion, which has increased by about $276 million in the past week ( from May 29, 2020, to Jun 10, 2020 · CoinMetrics, a company that analyzes crypto market data, has published a report that focuses on stablecoins and blockchain activity including an unusual instance related to Paxos. The report examines several blockchains including Bitcoin, Ethereum, TRON, and different types of stablecoins such as Tether, Paxos, USDC, TrueUSD, Gemini, HUSD, BUSD Stablecoins are hotter than ever, with Tether’s trade volume surpassing Bitcoin’s by 55% in the past 24 hours. Led by surges in the USDC and USDT, the total number of stablecoin daily active addresses has topped 265K. The above chart by Coinmetrics is smoothed using a 7-day rolling average.

Last week, the daily volume of transactions of major stablecoins maintained the recent trading level, and the proportion of the daily volume of transactions of each Feb 01, 2021 · — CoinMetrics.io (@coinmetrics) January 31, 2021. USDC Growing Faster. The main rival to Tether is another centralized stablecoin, USDC, from Circle. CoinMetrics reports that its market share has climbed to its highest level of around 15%.

New Coinmetrics research report shows how Ethereum network-based tokens, namely various stablecoins and non-fungible tokens (NFTs), have continued to grow despite the post ICO bear market. Mar 18, 2020 · Bitcoin’s losses last week had a devastating impact on the cryptocurrency industry. Undeterred by the chaos, however, was the stablecoin realm. These stablecoins, designed to minimize price volatility, continued to be actively used in the crypto-space, despite the market’s poor performance lately. Jul 23, 2020 · While this may be a concern associated with stablecoins for a while now, the past few years have registered tremendous growth for the stablecoin market within the larger cryptocurrency ecosystem.

May 12, 2020 · To help elucidate how different stablecoins are being used, we analyzed the times of day that stablecoins are being transferred and created heatmaps to show daily usage patterns. USDT-ETH has a clear pattern of heavy usage from about 2:00 to 16:00 UTC which corresponds with the hours that Asian and European stock markets are open. Coin Metrics organizes the world’s crypto data and makes it transparent and accessible. The rise of stablecoins has been nothing short of extraordinary. In July, Coinmetrics published a report that showed how the value of Tether (USDT), the biggest stablecoin, has increased over time from $1m in early 2016, to over $10 billion at the time of the report’s publication. Furthermore, it’s not just Tether that’s in growth. Apr 23, 2020 · As the name suggests, stablecoins are designed to have a fixed price not affected by market forces.

The future In July, the Financial Action Task Force (FATF) said that stablecoins need to comply with standards to prevent against money laundering and the financing It started to surge rapidly since the March 12-13 crash when Bitcoin recorded its third biggest daily drop in history and traders were searching for safety, as explained by CoinMetrics: Moving into stablecoins allows investors to effectively keep money parked on the sideline without having to completely cash out into fiat currency and incurring According to that report, the circulating supply of stablecoins had doubled to $12 billion. Then, Coinmetrics attributed the growth to an investor practice of converting volatile crypto assets to stablecoins when markets crash.

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Oct 1, 2020 2020 seems to be the year of stablecoins,” said Tether's CTO. end of Q2 to just below $20B on Wednesday, according to Coin Metrics data.

Source: Coin Metrics Network Data Pro Jun 03, 2020 · Source: coinmetrics.io Despite its imperfect history , Tether (USDT) is the most actively traded cryptocurrency with the daily volume equivalent to 120% of the BTC trading value. As of June 2020, it has the third-largest market capitalization ($9.2 billion). Jun 09, 2020 · Another way to compare stablecoins is to look at how many accounts are responsible for the majority of the on-chain activity (e.g. 80% of all on-chain activity, as in the chart below). If a small number of accounts are responsible for most of the transactions, it shows a lack of use outside of a handful of exchanges. Jun 10, 2020 · CoinMetrics offers a weekly “State of the Network” report that analyzes crypto networks for trends.

Jul 14, 2020 Stablecoin supply has doubled to 12 billion since the crypto market's March crash NEW YORK, July 14, 2020 (GLOBE NEWSWIRE) -- The

A large majority of the supply growth was due to Tether. Image Courtesy of Unfolded. Data via CoinMetrics. Because the barrier between switching stablecoins for other digital assets like Bitcoin is quite low, many investors view these tokens as “dry powder.” If this is the case, then investors may be apt to convert their stablecoins to BTC once its price starts gaining momentum again.

USD Stablecoin Supply ( Source ) Coinmetrics showcases that, due to insane trading volume spikes, some stablecoins lost their USD pegging and "skyrocketed" to $1.02 or even $1.05. These price swings generated lucrative opportunities for arbitrage trading. And it was Black Thursday that sent demand for stablecoins through the roof. New Coinmetrics research report shows how Ethereum network-based tokens, namely various stablecoins and non-fungible tokens (NFTs), have continued to grow despite the post ICO bear market. Mar 18, 2020 · Bitcoin’s losses last week had a devastating impact on the cryptocurrency industry. Undeterred by the chaos, however, was the stablecoin realm. These stablecoins, designed to minimize price volatility, continued to be actively used in the crypto-space, despite the market’s poor performance lately.