A week later, the market value of stablecoins has risen due to expectations of a rate cut by the Federal Reserve, which is undoubtedly a good thing. Compared with the decline in the market value of USDT and USDC a week ago, the increase in market value this time shows that more investors are optimistic about the trend of the currency market in the future, of course, this optimism is not very strong.
Judging from the data of USDT, its market value increased by 590 million US dollars in a week, which is not outstanding in the past five months, especially considering that USDT accounts for at most half of the application in the currency market, so the impact on the market may be relatively limited. However, relatively speaking, USDT will have a greater support for ALT (tokens other than BTC and #ETH), so more USDT may trigger a new sector rotation.
Compared with USDT, USDC will give greater support to BTC, ETH and even #SOL, which are more popular with American investors. In the past week, we have seen the#Bitcoinspot ETF turn from net outflow to net inflow, which also means that the investment confidence of American investors is gradually recovering. The increase of 390 million US dollars in the past week is also not much. After all, the current rise and fall still depends on the attitude of the Federal Reserve.
In addition, judging from the fund deposit data of the exchange, many friends have been saying that the cottage season has not yet arrived, which is not without reason. It can be seen that a large amount of USDT is deposited in the exchange. From the overall trend, except for a buying wave from March to April, the amount of deposits continues to rise. More funds are still waiting for the situation to change and are not in a hurry to enter the market.
The changes in USDC in the exchange are relatively normal, which also means that the sentiment of American investors to buy BTC and other products is higher than that of ALT.
In general, the growth of funds will help to enhance investors' bullish sentiment in the future market, but it is still necessary to pay attention to the fact that the current price changes mainly depend on the speculation on the Fed's interest rate cut status. Once the Fed has a clearer attitude, the price will also change accordingly.
