Summary of the latest developments: USDC circulation decreases, BlackRock’s IBIT net inflows increase significantly, and market panic selling pressure intensifies

USDC circulation: Over the past week, USDC circulation has decreased by approximately $900 million, reflecting a temporary decline in market demand for stablecoins.

BlackRock IBIT net inflow: Yesterday, BlackRock’s Bitcoin ETF IBIT saw a net inflow of $43.2 million, showing investors’ continued interest and confidence in Bitcoin.

Market Sentiment: Santiment data shows that this market decline is comparable to the decline in early July, but the same enthusiasm for bargain hunting has not yet occurred, and investor sentiment is more cautious.

Panic selling pressure in the market: QCP Capital pointed out that the US government’s transfer of BTC, Mt. Gox and Genesis repayments jointly brought panic selling pressure to the market and intensified market volatility.

XRP Ledger transaction volume: In Q2 2024, the XRP Ledger on-chain transaction volume dropped by 65.6%, indicating that the market's use of XRP and transaction activity have dropped significantly.

The current market is full of uncertainties, and investors need to pay close attention to market trends and operate with caution. Laolin's homepage will continue to provide you with professional market analysis and exclusive trading advice to help you succeed in the complex market.

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