VICTORIA, Seychelles, May 13, 2024
/PRNewswire/ -- KuCoin's latest monthly research report observed
the cryptocurrency market's resilience and
adaptability amidst shifting dynamics. Although the market
sentiment was moderated, the stablecoin sector
demonstrated robust growth. The issuance of major stablecoins like
USDT and USDC increased by $6 billion
and $868 million respectively,
signaling steady capital inflows and sustained investor interest in
the crypto sector, with the total financing scale
reaching 1.024 billion, maintaining a relatively high level.
Despite some adjustments, the Assets Under Management (AUM) for
the US Bitcoin spot ETFS and the open interest in BTC
futures and options exhibited stability, contributing to a balanced
fear and greed index throughout the month. This reflects a matured
investor response to evolving economic indicators and central bank
policies.
The report also noted a positive trend in Ethereum
Layer2 solutions, where despite a challenging broader market
environment, there was slight growth in Total Value Locked (TVL)
measured in Ethereum. This underscores the ongoing
innovation and resilience within key blockchain ecosystems.
KuCoin remains committed to providing the crypto
community with comprehensive insights and analysis, helping
investors navigate the complexities of the
cryptocurrency market with confidence. The full report
can be accessed here for detailed insights and further
information.
About KuCoin Research
KuCoin Research is a leading provider of research and analysis
in the cryptocurrency industry. With a team of
experienced analysts and researchers, KuCoin Research aims to
deliver high-quality insights and reports to empower investors and
industry professionals.
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SOURCE KuCoin