@BOMBERuss 30 June 2022 more from that month

The #cryptocurrency market is preparing for another #rally, as evidenced by the accumulation of $25 billion in stablecoins on exchanges. This was announced on #Twitter by the head of CryptoQuant, Ki Yong Joo. According to him, the volume of stablecoins on exchanges already accounts for half of the value of #bitcoin reserves. However, it remains unclear exactly when the market will enter the phase of buying cryptocurrencies. Zhu noted that despite the collapse of bitcoin's market #capitalization (a drop of 70%), the capitalization of stablecoins decreased by only 11%. However, users doubted that the stated figure is those who are waiting for the bitcoin rally. For example, some users have noted that the concentration of stablecoins on exchanges may be the result of high interest on deposits. Earlier, Kaiko analysts warned that cryptocurrency exchanges could face a domino effect if market quotes do not recover. The researchers note that as market quotations fall, crypto exchanges are forced to change the business structure even more in order to survive. At the same time, the founder of the #FTX crypto #exchange, Sam Bankman-Fried, said that some crypto exchanges are already "secretly insolvent." At the same time, he added that individual players of the crypto market "have gone too far," and it is "impractical to support them because of a significant hole in the corporate account." However, he refused to say which trading platforms he was talking about. Meanwhile, bitcoin is trying to find support and form a rising low after a bullish breakdown of the short-term resistance line.