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Stablecoin Supply Breaks Above $10B, Analysts Mati Greenspan and Adam Back Share Their Views

News
Mon, 06/15/2020 - 13:30
Vladislav Sopov
The insane growth of the stablecoin net supply is one of the main trends in crypto in 2020. Traders and analysts are guessing what it means
Stablecoin Supply Breaks Above $10B, Analysts Mati Greenspan and Adam Back Share Their Views
Cover image via www.facebook.com
Contents

Mati Greenspan, a seasoned cryptocurrency trader, analyst and founder of the Quantum Economics newsletter, has noticed a rapid upsurge in the stablecoin supply. 

Does eleven-digit supply really matter?

In his recent tweet, Mr. Greenspan revealed the jaw-dropping statistics on the total stablecoin supply. It surged almost 100% in less than six months in turbulent 2020.

Mati Greenspan asks whether we sould be concerned about skyrocketed stablecoins' supply
Image via Twitter

Mr. Greenspan asked his Twitter audience whether we should be concerned about such an impressive rally in stablecoin market capitalization.

Legendary cypherpunk, CEO and co-founder of the Blockstream development studio, which works on the Bitcoin (BTC) network and other related solutions, was one of the first to reassure Mr. Greenspan. He outlined that these metrics represent the instrumental aspect of the digital assets segment more than anything else:

Tether? No, it's just fuel. And we don't know USD balances of exchange trading accounts and it's likely more.

He believes that the United States Dollar Tether (USDT) is just fuel for cryptocurrency exchanges and its statistics can say very little about the real balances of trading accounts.

However, one of the first Bitcoin (BTC) developers believes that these balances store 'likely more' money in USD equivalent.

Tether (USDT) is on a march

As covered by U.Today Crypto News, automated analytical tools have detected the rapid expansion of the USDT supply. One week ago, the Skew analytical group, which works in crypto derivatives, noticed that its market capitalization is targeting the $10 Bln level.

The latest impressive growth from the USDT market cap can be mainly attributed to its Ethereum-based and Tron-based versions. Two days ago, another 100M USDT were minted by Tether on the Tron (TRX) blockchain.

It is also worth noticing that every Tether (USDT) transaction on Bitfinex migrated to the OMG Network, Plasma infrastructure on top of the Ethereum (ETH) blockchain.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)