- Santiment revealed that whales have been stocking up on stablecoins like USDT, USDC, DAI, and BUSD.
- The YTD market shares for some of the most popular stablecoins in the market have drastically changed, according to trader Ali.
- Only USDT and TUSD saw their YTD market shares increase.
The on-chain analytics platform, Santiment, shared on Twitter today that stablecoins are being accumulated by key whale and shark wallets as the price of Bitcoin (BTC) remains below $30,000. Santiment’s data indicated that stablecoins such as Dai (DAI), Binance USD (BUSD), USD Coin (USDC), and Tether (USDT) are being targeted by these large holders.
Key #whale & #shark #stablecoin wallets appear to be loading up during #Bitcoin's visit below $30k here at the end of the month. #Tether, #USDCoin, #BinanceUSD, & #Dai are all seeing supply shifting into these key wallets. Explore more with Sanbase PRO. https://t.co/vnmD8qjcov pic.twitter.com/2PB5HAgoj9— Santiment (@santimentfeed) July 31, 2023
It is also worth noting that the year-to-date (YTD) market shares for some of the largest stablecoins in the cryptocurrency market have seen some drastic changes over the past year. Thi…
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The post Stablecoin Accumulation Surges as BTC Lingers Below $30K appeared first on Coin Edition.