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

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Gate Team
August 28th, 2024