• Retailers are buying more bitcoins than miners can provide
Retail investors with less than 1 bitcoin, commonly known as "shrimpers" are accumulating more coins than miners can release each month, according to on-chain data.
Lead analyst Glassnode shared on Twitter that shrimp accumulate an average of 33,800 bitcoins (BTC) per month. This buying activity is significant because it surpasses the monthly issuance of new bitcoins, which currently stands at 27,000 BTC. This means that these retail investors are effectively withdrawing 1.25 BTC for every new coin issued, indicating a high level of demand that could support prices.
Observers emphasize that the current buying fever of retail investors represents the highest dollar value accumulation since the peak of the bull market.
• Tether issues 1 billion USDT on Tron, market dominance at 65%
Tether Treasury recently minted 1 billion USDT, on the Tron network as part of the Ethereum "top-up" process, equivalent to 1,000,485,000 USDT. This issuance will not affect the overall market capitalization of USDT, as it is classified as an "authorized but unissued transaction." The newly-issued USDT will serve as a reserve for future issuance requests and chain swaps, allowing traders to move their digital assets from one blockchain to another.
According to Coingecko, USDT's market value has increased by $2.6 billion over the past three months, while its rival USDC has seen a $4.6 billion decline. USDT currently dominates the stablecoin market with 65% of the total market value, while USDC owns 21.4%.
• Crypto exchange Binance has turned 6 years old Binance
One of the leading crypto exchanges, celebrated its 6th anniversary. The founder of the exchange, Changpeng Zhao, shared important trends in the market, talked about the history of the exchange's development and presented his vision of the future of the cryptocurrency sphere. During these 6 years, Binance has passed a huge development path. At the beginning of its existence, the exchange supported only five tokens and offered only two languages, while today the platform offers more than 600 different cryptocurrencies.
Currently, Binance boasts 140 million registered users, 2.4 million Binance Card holders and 11.9 million customers of the Binance Earn staking service. In addition, Binance Labs has successfully invested in more than 200 projects, demonstrating an active role in the development of the cryptocurrency community.
• The rise of the cryptocurrency market is favorable for memcoins
Memcoins continue to impress with their growth in the context of the overall market upturn. Over the past 24 hours, Pepe and Dogecoin have risen significantly, helping them emerge from their stabilization phase and pave the way for sustained growth. At the same time, the new meme project Mr. Hankey Coin (HANKEY) managed to complete a pre-sale in just 9 hours, attracting the attention of investors and raising an impressive $500,000. This shows the significant interest and community support towards the new memcoins.
• There is a sharp decline in the volatility index of BTC and ETH
BTC and ETH did not show significant growth after the publication of macroeconomic data, leading to a strong decline in the volatility index (Dvol). Currently, the BTC Volatility Index stands at 42%, down nearly 10% from its peak yesterday. The short-term index has also declined, with weekly volatility approaching the 30% level. Thus, the level of volatility in the cryptocurrency market is approaching the levels seen at the end of last year, and the volatility of major coins has almost reached historic lows.