Web3 Organizations Unite in Protest: JPMorgan Data Fees May Hinder Stablecoin Growth

In the USDC and USDT parameter, there are very small fluctuations in buying and selling, but the larger the trading amounts, the bigger the money we will earn. It can be evaluated, especially friends who have a lot of points can burn points here.

🔥 Gate.io Trending Coins📈 [February 7] 🔥 $FIRE$ $USDC$ $XMR$ $DYM$ $SOL$ $TROLL$ $ZETA$ $MAVIA$ Which one are you bullish on?🧐 👉More: https://www.gate.io/trade

Gate.io plans for further destruction of Gate Token (GT). GT is a utility token on GateChain, with a total issuance of 300 million, which has been deflated to less than 133 million, and the actual Circulating Supply has approached 100 million. In the future, we will always adhere to the GT destruction deflationary strategy, and the current plan is as follows: 1. Gate.io will destroy the GTHoldings in the GT insurance fund to ensure that the GTHoldings in the insurance fund does not flow to the market again. And allocate USDT, USDC, BTC, ETH and other mainstream assets in the insurance fund, and the goal at this stage is to reduce the total amount of GT from the current about 133 million to less than 100 million. 2. After the total amount of GT is reduced to less than 100 million, a new target for reducing the total number of GT will be proposed and implemented. 3. An on-chain burning mechanism will be introduced to consume GT as Gatechain's on-chain gas fee, and more GT will be burned as on-chain transfers are busy. In the future Gate.io will continue to explore more and better deflation solutions based on the development of industry technologies (such as Zero-Knowledge Proof-based scaling technology) and the regulatory environment. See more details: https://www.gate.io/article/34407

#Could BTC break the $60K-$70K range soon? While the fall that started in April in Bitcoin and altcoins continued in the first days of May, the BTC price fell to $ 56,500. After this decline, BTC and altcoins saw a rebound, and the BTC price approached the $62,000 mark. The whales, which tend to evaluate the declines, did not sit idle again and made altcoin purchases. Accordingly, as the market recovered, on-chain data tracking platform Nansen revealed the most purchased cryptocurrencies in the last 24 hours. According to Nansen data, whales have turned to different altcoins. Accordingly, ZENT, COMP, and IMX were among the most purchased altcoins by whales. USDC ranked first in the list of the most purchased cryptocurrencies, while ZENT ranked second, COMP third, and IMX fourth. Whales also made significant purchases of PEPE, WBTC, ETHFI, and DOG. USDC recorded an inflow of $48.3 million in the last 24 hours, while ZENT recorded an inflow of $17.5 million, COMP $5.4 million, IMX $2.3 million, and PEPE $1.1 million.

Analysts say, "It's not Bitcoin spot ETFs, it's this indicator that determines the real bull!" Cryptocurrency market analysts have traditionally relied on demand for spot Bitcoin (BTC) ETFs to predict the direction of digital asset prices. However, a new report by 10x Research suggests that stablecoin supply may be a more accurate indicator of crypto demand. Stablecoins, which are predominantly digital assets with a fixed price pegged to the U.S. dollar, are a crucial infrastructure component that bridges the gap between traditional currencies and the digital asset world and provides liquidity for trading. According to Markus Thielen, founder of 10x Research, changes in their supply offer valuable insights into the health of the crypto market. The report noted the rapid expansion in stablecoin supply, suggesting that this could point to higher crypto prices in the future. Over the past 30 days, the supply of the two largest stablecoins, Tether (USDT) and USDC, has increased by a combined $10 billion. Meanwhile, the supply of the third- and fourth-largest stablecoins, MakerDAO's DAI and Hong Kong-based First Digital's FDUSD, also expanded by 5%-10% during this period. "Fiat money is moving to crypto at a rapid pace," Thielen said. In contrast, U.S.-based spot Bitcoin ETFs have attracted $5 billion in net inflows over the past 30 days. Thielen pointed out that mints from stablecoins are twice as large and can represent long-term exposure, unlike ETFs. #ContentStar #Gate post Highlights #HotTopicDiscussion #BountyCreator #GateLive #NewsMessenger #BTC #FDUSD #USDC #DAO