Wednesday, October 4, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News Bear Market

End Of Crypto Bear Market: What Binance BUSD Data Suggests?

news by news
January 9, 2023
in Bear Market, Crypto Market, Crypto price today, News, United States
0
End Of Crypto Bear Market: What Binance BUSD Data Suggests?
0
SHARES
56
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Kraken Data Shows Huge Bitcoin Influx; BTC Price To Breach $30K Soon?

FTX’s $500 Million Bet on Anthropic Pays Off Amid Google’s Interest

crypto bear market

The current crypto market rebound comes as a welcome trend for traders after a tough time for most part of 2022. However, macroeconomic scenario does not really reflect a bullish sentiment in the traditional markets as yet. The FTX collapse at the far end of 2022 dealt a body blow to the crypto community. Meanwhile, there seems to be a change of attitude that is driving the altcoin rally currently.

Also Read: Metaverse Tokens Boom: Zilliqa Price Surge By 50%; SAND Up By 15%

What’s Happening With BUSD?

In the context of market recovery post the FTX related liquidity concerns, on chain data shows some interesting trend in Binance BUSD data. According to Crypto Quant data, there is a drop in BUSD reserves since December 12, 2022. This decline marked the start of pumping of altcoin prices. It may be recalled that a majority of investors moved their assets to Binance exchange when they feared FTX exposure would lead to closure of companies. However, the situation had apparently changed few weeks later, as evident with the decline in reserves.

“$BUSD reserves have risen significantly since the FTX. But it started to drop significantly from December 12. That’s when altcoin began to pump. Market liquidity remained unchanged and began to eat up $ BTC’s dominance.”

This is not particularly a good thing for the crypto market in the medium term. Compared to previous bull runs, the current rebound is not caused by a fresh influx of capital.

Also Read: Cardano (ADA) and Solana (SOL) Lead Altcoin Rally With 20% Gains Each

The Binance USD stablecoin lost significant market cap in the last one month. In fact, from around Deceber 14, the BUSD market size curve has been on a steady downward curve. From a high of around $24 billion immediately after FTX meltdown, the stablecoin lost a market share by a whopping 40%.

The post End Of Crypto Bear Market: What Binance BUSD Data Suggests? appeared first on CoinGape.

Related Posts

24/7 Cryptocurrency News

Kraken Data Shows Huge Bitcoin Influx; BTC Price To Breach $30K Soon?

October 4, 2023
24/7 Cryptocurrency News

FTX’s $500 Million Bet on Anthropic Pays Off Amid Google’s Interest

October 4, 2023
24/7 Cryptocurrency News

Ripple Secures An MPI License In Singapore, Here’s Why It Matters

October 4, 2023
24/7 Cryptocurrency News

OpenSea Studio Goes Live for Creators to Easily Launch and Manage NFT Projects

October 4, 2023
24/7 Cryptocurrency News

XRP Price Jumps 5% After Court Denies SEC’s Interlocutory Motion, Next Target $1?

October 4, 2023
24/7 Cryptocurrency News

XRP Lawsuit Trial Date Locked In April 2024; Any Further Change?

October 4, 2023
Next Post
Terra Classic Community Burns Over 12 Million LUNC, Price Jumps

Terra Classic Community Burns Over 12 Million LUNC, Price Jumps

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Breaking: Solana (SOL) Price Drop Due To Exploit; Time To Buy?

Breaking: Solana (SOL) Price Drop Due To Exploit; Time To Buy?

December 16, 2022

Just-In: South Korea Proposes System To Freeze Funds On Binance, Top Crypto Exchanges | Coingape

May 30, 2023
Ethereum’s Vitalik Buterin Suggestions Amid Shanghai Upgrade, Arbitrum Airdrop

Ethereum’s Vitalik Buterin Suggestions Amid Shanghai Upgrade, Arbitrum Airdrop

March 17, 2023
PEPE Coin Whale Made $1.23 Million In One Hour

PEPE Coin Whale Made $1.23 Million In One Hour

May 4, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In