ETHUSDIn the past 24 hours, the cryptocurrency market has experienced significant volatility, with 73,954 investors facing liquidations totaling $198 million. The largest single liquidation occurred on Binance's ETHUSDT trading pair, amounting to $2.942 million. This phenomenon has not only caused substantial losses for individual investors but has also impacted overall market sentiment.
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🕯⌛According to the OctoQuant data monitoring center, in the past 24 hours, the entire network was affected by the violent market fluctuations, resulting in more than 172,870 people's positions being liquidated, with a total liquidation amount of more than US$450 million. 🛡✔️💯OctoQuant uses market-leading strategic trading technology, fearless of any market risks, to ensure that investors can make steady profits every time they entrust! #OCTOQUANT #encryption #stableBTC
$BTC 📊💵The Rise of Cryptocurrencies as Real-World Assets
[RWA Report: The Rise of Cryptocurrencies as Real World Assets], OctoQuant releases the 2024 RWA Report. According to the report, the majority of real-world assets (RWAs) are now stablecoins pegged to the U.S. dollar. The top three USD stablecoins alone hold 95% of the market share, with Tether (USDT) having a market capitalization of $96.1 billion, USDC (USDC) having a market capitalization of $26.8 billion, and Dai (DAI) having a market capitalization of $4.9 billion. USDT continues to dominate with a market share of 71.4%. Meanwhile, after a brief de-pegging during the US banking crisis in March 2023, USDC's market share plummeted and has yet to recover. Stabilized assets other than USD-pegged stablecoins account for only 1% of the market. These assets include other fiat currencies such as the Euro Tether (EURT), Offshore Chinese Yuan Tether (CNHT), Mexican Peso Tether (MXNT), Euro to US Dollar (EURC), StasisEuro (EURS), and Lira (TRYB). The market capitalization of stabilized assets soared from $5.2 billion in early 2020 to a peak of $150.1 billion in March 2022, before gradually declining throughout the bear market. However, its market capitalization grew by 4.9% in 2024, from $128.2 billion at the beginning of the year to $134.6 billion on February 1st. #OctoQuant #RWA #USDT
🖥🔔According to OctoQuant Data Research Center: Cryptocurrencies are gradually becoming the world's dominant currencies, according to insiders who have learned that at least two of Russia's top metals producers have begun using Tether Holdings' stablecoin and a number of other cryptocurrencies to settle some of their cross-border transactions with suppliers. Executives at the company said they declined to be identified because the information isn't public. In some cases, settlements are done through Hong Kong. Billy Wells, a digital currency expert and founder of Octo, said that cross-border settlements via cryptocurrencies, particularly stablecoins pegged to the U.S. dollar, are a relatively common practice in countries facing dollar liquidity problems and capital controls, and not only in the commodities sector. #OctoQuant #cryptocurrency #USDT $BTC