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Gate Research: Stablecoin Supply Continues to Rise, Global Crypto Millionaires Double from Last Year
Gate Research Daily Report: On August 27, both Bitcoin and Ethereum saw declines as market sentiment turned cautious. U.S. Bitcoin spot ETFs recorded a net outflow of $21.85 million, while Ethereum spot ETFs saw a net outflow of $13.52 million. The rise in stablecoin supply suggests positive market signals, potentially indicating an upcoming rally. Bitcoin’s hash rate is nearing an all-time high, with mining difficulty expected to set a new record. In the past 24 hours, five projects announced funding rounds, raising a total of $12.6 million. Orderly Network has launched its airdrop and staking programs, while Nubit has begun the third phase of its testnet tasks.
Market Analysis: Both BTC and ETH have experienced a downward trend in the past 24 hours, with market sentiment remaining cautious.Top Performers: The most popular tokens over the past 24 hours are NULS, REI, and HTM.**Data Highlights: **Over 170,000 people worldwide now hold crypto assets worth more than $1 million, doubling from last year.Spotlight Analysis: The increase in stablecoin supply shows positive signs, possibly indicating a new rally in the crypto market.Market Opportunities: Orderly Network has launched airdrop and staking programs, while Nubit has initiated the third phase of its testnet tasks.
Explore today's details 👉🏻 Gate Research: Stablecoin Supply Continues to Rise, Global Crypto Millionaires Double from Last Year
**Gate Research **Gate Research is a comprehensive blockchain and crypto research platform, providing readers with in-depth content, including technical analysis, hot insights, market reviews, industry research, trend forecasts, and macroeconomic policy analysis.
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Gate.io TeamAugust 28th, 2024
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