#PayPal is looking into launching its own stablecoin as the company grows its #crypto business. According to article, there's some hidden Code in #iPhone app which indicates the potential of launching a #stablecoin.
There has been a huge amount of #stablecoin deposits to the exchange. It is the highest level of this year 👀. What do you think, what's next 🤔?
What is Stable coin Supply Ratio (SSR) ?
The #Stablecoin Supply Ratio (#SSR) is the ratio between the# Bitcoin supply and the equivalent supply of stablecoins denoted in BTC. It is calculated as #Bitcoin Market cap / Stablecoin Market cap. This serves as a proxy for the supply/demand mechanics between #BTC and #USD.
The SSR oscillator is used by traders and analysts to identify market trends and potential buying or selling opportunities in Bitcoin.
When the #SSR is low, it indicates that the current stablecoin supply has more relative "buying power" to purchase #BTC.
When the #SSR is high, it indicates that the current stablecoin supply has less relative "buying power" to purchase #BTC.
The #Stablecoin Supply Ratio (#SSR) is the ratio between the# Bitcoin supply and the equivalent supply of stablecoins denoted in BTC. It is calculated as #Bitcoin Market cap / Stablecoin Market cap. This serves as a proxy for the supply/demand mechanics between #BTC and #USD.
The SSR oscillator is used by traders and analysts to identify market trends and potential buying or selling opportunities in Bitcoin.
When the #SSR is low, it indicates that the current stablecoin supply has more relative "buying power" to purchase #BTC.
When the #SSR is high, it indicates that the current stablecoin supply has less relative "buying power" to purchase #BTC.
What is Stablecoin ?
#Stablecoin are a type of cryptocurrency that are designed to maintain a stable value, usually #pegged to a fiat currency like the #US dollar. Unlike other cryptocurrencies such as #Bitcoin or #Ethereum, which can experience significant price volatility, stablecoins aim to provide stability and minimize fluctuations in value. They achieve this by backing the value of each coin with #reserves of the pegged fiat currency or other assets.
Stablecoins offer several benefits in the crypto ecosystem. They can be used as a store of value, a medium of #exchange, or a unit of account, providing stability for users and facilitating everyday transactions. Additionally, stablecoins can enable #faster and cheaper #cross-border transactions compared to traditional #banking systems.
Different types of stablecoins exist, including #fiat-collateralized stablecoins, crypto-collateralized stablecoins, and algorithmic stablecoins. Each type has its own mechanism for maintaining price stability.
Overall, stablecoins play a crucial role in the cryptocurrency market, providing a reliable and stable digital #asset that combines the benefits of cryptocurrencies with the stability of traditional fiat currencies.
#Stablecoin are a type of cryptocurrency that are designed to maintain a stable value, usually #pegged to a fiat currency like the #US dollar. Unlike other cryptocurrencies such as #Bitcoin or #Ethereum, which can experience significant price volatility, stablecoins aim to provide stability and minimize fluctuations in value. They achieve this by backing the value of each coin with #reserves of the pegged fiat currency or other assets.
Stablecoins offer several benefits in the crypto ecosystem. They can be used as a store of value, a medium of #exchange, or a unit of account, providing stability for users and facilitating everyday transactions. Additionally, stablecoins can enable #faster and cheaper #cross-border transactions compared to traditional #banking systems.
Different types of stablecoins exist, including #fiat-collateralized stablecoins, crypto-collateralized stablecoins, and algorithmic stablecoins. Each type has its own mechanism for maintaining price stability.
Overall, stablecoins play a crucial role in the cryptocurrency market, providing a reliable and stable digital #asset that combines the benefits of cryptocurrencies with the stability of traditional fiat currencies.
Following the news about Binance, there has been a noticeable outflow of coins from the exchange. The chart below illustrates the two-week perspective on #Binance's reserves for major assets, including BTC, #ETH, and #stablecoins like #USDT, #USDC, and #BUSD.
In the past week, #investors have been steadily #withdrawing their assets, resulting in a significant decrease in aggregate #Stablecoin balances by over $1.6 Billion. This represents approximately 20.9% of the total balance held on #Binance. #BTC and #ETH reserves have seen a comparatively smaller decline of 5.7% and 7.1%, respectively.
In the past week, #investors have been steadily #withdrawing their assets, resulting in a significant decrease in aggregate #Stablecoin balances by over $1.6 Billion. This represents approximately 20.9% of the total balance held on #Binance. #BTC and #ETH reserves have seen a comparatively smaller decline of 5.7% and 7.1%, respectively.