This week, some alts have already begun to recover and start to grow. But most of the market continues to stagnate. Previously, we have already considered several key points hinting at the imminent start of the alt season. Today we will pay attention to the dominance of stablecoins.
🥉1. USDC.D - After the FUD associated with the company issuing this stablecoin, USDC dominance continues to decline. Domination finally failed under the growing trend and most likely this trend will continue.
🥈2. DAI.D - This algorithmic stablecoin has long been targeted by various FUDs. And the situation with USDC forced this stablecoin to get rid of USDC collateral. Now the dominance has fallen under the uptrend and if we gain a foothold below, then the DAI dominance will continue to decline.
🥇3. USDT.D - Now the USDT stablecoin has remained the main monopolist in the market. Unlike its competitors, this stablecoin does not lose its dominance and continues to be in an uptrend. Considering how much the dominance of other stablecoins has dipped, the USDT stablecoin has been holding +- the same dominance value for many months.
📝 Outcome We have identified an interesting trend. While the dominance of all stablecoins is falling, the dominance of USDT is stagnant. This means that liquidity from other stablecoins doesn't mostly flow into USDT, but rather flows straight into Bitcoin. And already from Bitcoin, liquidity will flow into alts, which is already evident from a number of alts that have gone up.
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