According to analytical company Santiment, against the background of the recent correction and consolidation in the crypto market, decent amounts of stablecoins entered the cryptocurrency exchanges
According to Santiment, 18 November record volumes of stablecoins entered cryptocurrency exchanges in the form of Tether (USDT) и USD Coin (USDC):
“The largest hourly inflow of Tether to exchanges for the entire year occurred on Thursday. IN 8:00 UTC was transferred to exchanges for more than $771,6 million in USDT, and after all 6 hours $454 million in USDC, what is the 4-month high for the asset "
After correcting the BTC rate from $69 000 to less $56 000 the asset is discussed on the Internet much less actively, than in June:
“With the altcoin boom, for most of 2021 years and even in conditions of strong volatility, now BTC is discussed about half as much, than 5 months ago. Now only 15% discussions on crypto platforms related to BTC vs. 30% in mid-June"
Santiment noted, that one altcoin is going against the trend of the broader market. Metaverse-focused asset Sandbox (SAND) within a week grew by almost 50%:
“SAND is trading higher now $4 and the asset went against the correction, affecting almost all other altcoins. SAND's realized profit / loss is starting to find a balance, which has historically been an extremely accurate indicative indicator "