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Home»ADOPTION NEWS»As USDT and USDC issuance surge, the cryptocurrency market becomes extremely greedy.
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As USDT and USDC issuance surge, the cryptocurrency market becomes extremely greedy.

By Crypto FlexsMarch 13, 20243 Mins Read
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As USDT and USDC issuance surge, the cryptocurrency market becomes extremely greedy.
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KuCoin’s latest research indicates a significant shift in the cryptocurrency market towards extreme greed, supporting a $4.55 billion increase in stablecoins USDT and USDC, leading to increased market liquidity.

The cryptocurrency market has entered a phase of ‘extreme greed’. This is highlighted by the stablecoin Tether (USDT) and USD Coin (USDC) issuance, which increased by $4.55 billion. These developments were highlighted in a recent research report from KuCoin, a global leader in cryptocurrency exchanges.

According to a report published on March 12, 2024, the rapid increase in stablecoin issuance, with USDT’s circulating volume increasing by $2.79 billion and USDC’s circulating volume increasing by $1.76 billion, is due to the demand for liquidity in the cryptocurrency market. reflects the increase. The report suggests that this demand is driven by bullish sentiment, as major stock indices are showing strength and Bitcoin is showing notable performance alongside AI-based cryptocurrency projects.

KuCoin Research’s findings also examine the harmony between developments in the AI ​​sector and the cryptocurrency market. The report points to an acceleration in token issuance and growing interest in AI integration projects within the blockchain ecosystem. This trend is occurring as the Ethereum network prepares for the Dencun upgrade to increase the efficiency of Layer 2 solutions critical to network expansion.

The report delves into investment trends, highlighting a consistent focus on centralized finance (CeFi), infrastructure, and GameFi. These trends are unfolding against a backdrop of evolving regulatory dynamics that continue to shape the future of the cryptocurrency industry.

Johnny Lyu, CEO of KuCoin, said, “These insights highlight the dynamic evolution of the cryptocurrency market and reflect both the challenges and tremendous opportunities within this dynamic sector. KuCoin is excited to continue participating and contributing to these market trends. to promote growth and innovation.”

The current market conditions described in the report demonstrate the resilience of stablecoins such as FDUSD and TUSD. Despite facing challenges, these stablecoins have seen a surge in issuance, suggesting confidence in their role as a hedge against volatility and a medium of exchange in the cryptocurrency market.

This comprehensive analysis from KuCoin Research serves as a valuable resource for stakeholders, providing critical insights into the complex dynamics of cryptocurrency markets. With over 30 million users across over 200 countries and regions, KuCoin has established itself as a leader in the cryptocurrency exchange industry, providing a variety of services including spot trading, margin trading, peer-to-peer fiat trading, futures trading, and staking. We are maintaining it.

KuCoin Research’s full report not only reflects the current state of the cryptocurrency market, but also serves as a guide to what to expect in the near future. This is a testament to KuCoin’s commitment to providing high-quality research and analysis to empower investors and professionals in the cryptocurrency industry.

Image source: Shutterstock

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