VICTORIA, Seychelles, May 14,
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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