Forwarded from Jlabs Digital - Oculus
The ETH rally showed it had legs as premiums (FOMO) grew in the futures market. That has now disappeared. Without this premium picking back up, this rally has lost steam. #ETHUSD
Forwarded from Jlabs Digital
Yesterday, Tether performed a 500 million chain swap requested by Binance as a third-party request. Binance exchanged notionally 500 million USDT from TRC chain and received ERC chain USDT.
Chainswaps should not change the circulating supply. However, Tether has not burned the USDT (TRC chain) they received and are now re-using it for issuance requests. This is a large inflow of liquidity into the market in past one week. #USDT
Chainswaps should not change the circulating supply. However, Tether has not burned the USDT (TRC chain) they received and are now re-using it for issuance requests. This is a large inflow of liquidity into the market in past one week. #USDT