As much as "FOMO" has become a meme in the Bitcoin Community (BTC), "Fear of Missing" seems like a very real phenomenon. A few days ago, the leading crypto curve shot over the $ 10,000 value, and the data shows that more money and investors are pouring into the markets – and they want to make a difference.
This renewed interest is in the eyes of some optimistic commentators clearly signs of new heights.
Bitcoin volume is rising
The markets are closed for Saturdays. Only from Monday to Friday is the stock market open, many companies too. But Bitcoin is a completely different caliber.
As analyst Joe McCann discovered, on Saturday, BitMEX recorded the highest volume day in its history – crazy. The pair on the exchange, which is known for its 100x leverage bid (1% movement can liquidate its position), is trading over $ 8 billion – that is 10% of all registered volumes in the coin market.
Keep in mind the fact that this year's rally has led to huge volumes confirming that this uptrend has been confirmed by Bitcoin.
FOMO materialized in Stablecoins
Such large inflows point directly to this suggesting that investors – presumably owners of significant amounts of cryptographic curves – are trying to redistribute capital to this area because of the recent upswing.
Meanwhile, Tether has begun to issue USDT a lot. The number of Stablecoins now in circulation has reached $ 3.8 billion, a full-time high. In a nutshell, the USDT has begun to break its dollar rate and start trading at $ 0.994 due to high sales volumes.
This means that investors dump Stablecoin for Bitcoin, Ethereum and other large format digital assets. If history can give an indication of how things will develop in the future, Bitcoin will again have difficulty crossing the important trend line.
Text reference: newsbtc