USDC trade ideas
The Crypto Cycle Indicator is BROKEN!Last summer, as BTC tapped what I thought might be it's pre-halving high of about $31,000 USD, I used www.tradingview.com indicator to point out that we had tapped the trendline that generally indicates we are at or near a price high for the mini bull cycle inbetween halvings.
It was right... for about 3 months. Then the entire crypto space exploded higher, followed soon by stocks and treasuries.
My theory is a part of that was large purchases of Bitcoin were being made for the ETFs that went live in January.
So, time for a change of plans to figure out where tops and bottoms might be.
One thought is Plan B's "Stock to flow" model, which skewed overly bullish last cycle, maybe it skews conservative this time?
Always hard to say.
I have one interesting chart to share here. Just simply putting BTC on a logarithmic scale and drawing a channel to hit the bottoms from 2018, 2020 and 2022, this meant I had to clip the highs from 2017 and cross the top of the next lowest weekly candles, but it hit the spring high of 2021, but the high in November was below the upper trend line.
Now, this is more bullish than the stock 2 flow model, but hey, this cycle seems different with setting new all time highs BEFORE the halving, and the supply being even more restricted now due to the massive buying to put in these ETFs.
F it, let's go. April 2025 target is $330k.
Alt Season Proxy IndicatorUse that formula: 1/((CRYPTOCAP:USDC+CRYPTOCAP:USDT)/CRYPTOCAP:TOTAL)
When prices go up: Alt season
When price goes down: Alt recession
Let's break it down: CRYPTOCAP:USDC: This represents the market capitalization of the US Dollar Coin (USDC) in the cryptocurrency market. CRYPTOCAP:USDT: This represents the market capitalization of the Tether (USDT) stablecoin in the cryptocurrency market. CRYPTOCAP:TOTAL: This represents the total market capitalization of all cryptocurrencies.The formula itself is calculating the reciprocal of the ratio between the combined market capitalizations of USDC and USDT and the total market capitalization of all cryptocurrencies.
Crypto Bear Market Bottom Breakout ConfirmedThe total stablecoin market downtrend parabola was broken this week and backtested yesterday and wicked up to form a bullish retest candle.
Crypto bear market bottom is in. Expecting bitcoin to likely lead the charge as usual until we peak out on the BTC.D dominance chart pennant pattern, then alts run.
In meantime gobbling up all my fav alts while they bottom pattern here.
Crypto long cycle indicatorI cannot take credit for this. I believe I saw this basic layout posted on Twitter by Will Clemente some time ago. I just re-created it myself so I could have the ability to watch in real time the larger crypto market cycles with this indicator.
It is the market cap of stable coins USDC and USDT added together in parentheses (USDC+USDT) divided by total crypto market cap on trading view. It ends up looking like (USDC+USDT)/TOTAL as the ticker.
You then use the logarithmic scale and draw parallel lines to hit the approximate market tops and bottoms.
Well, with today's pump to above FWB:31K for BTC, it appears we're just about hitting the bottom line that indicates we're near a market top again for the crypto space for now.
We're in that weird, in-between halvings timeframe, post the year-long market sell-off. I had been making the comparison to 2019's market for some time, and we just may well have seen the top of the crypto space for the year, or are very near to seeing it. I expect a slow grind down from here to the end of the year, it might start to try to rally again just before the halving, it tried to in 2020, but then the whole COVID situation caused a flash crash across all assets. If we don't have a similar catastrophe pre-halving, maybe the rally momentum early next year after a slow grind down for the remainder of this year simply follows through. Then we get the real mania bull cycle ala 2020-2021 all over again for 2024-2025.
That's at least how I see this playing out. If you were smart enough to buy Bitcoin during the December lows, I'd start thinking about taking profits here and wait for it to find another decent supported low late this year/early next year if we are indeed sort-of repeating what happened in 2019.
USDC & SVBIn the past 24 hours, the trading volume of the Bybit USDC/USDT perpetual contract pair exceeded an astonishing $380 million, and the annualized funding rate was as high as 740%
After Friday's stunning collapse of Silicon Valley Bank, questions swirled around the exposure of one of crypto's top firms, Circle, the issuer of the second-largest stablecoin, USDC.
In its March attestation, Circle had revealed that part of its $9.88 billion in cash reserves was held at SVB, although it did not disclose the total amount. Following the collapse of SVB, withdrawals from USDC mounted, with the crypto intelligence platform Nansen showing over $1 billion in redemptions from the stablecoin since SVB's shutdown. USDC has a market cap just north of $40 billion.
As USDC lost its $1 peg across different crypto exchanges amid withdrawals, Circle sought to instill confidence, with the company tweeting at 6:50 pm ET that it would continue to operate normally, sharing that SVB was one of the six banking partners it uses for the 25% of its reserves that it keeps in cash, although still not disclosing the amount held at SVB.
As investors continued to move out of USDC, Binance announced it would be temporarily suspending its auto-conversion policy of USDC to its BUSD stablecoin, citing "market conditions" and describing the action as a "normal risk-management procedural step." At 10:11 PM ET, Circle offered more clarity, tweeting that $3.3 billion—or around 8%—of its reserves remained at SVB, revealing that wires initiated on Thursday to remove balances from the bank had not been processed. Dante Disparte, Circle's chief strategy officer, tweeted soon after that Circle was protecting USDC "from a black swan failure in the banking system."
Meanwhile, USDC's peg continued to weaken, with the token trading at $0.92 against tether on Kraken as of 10:40 pm ET. Coinbase announced it would be temporarily pausing conversions from USDC to USD over the weekend while banks are closed, adding that during periods of heightened activity, conversions rely on USD transfers from banks that clear during normal banking hours. Coinbase worked with Circle to create USDC, launching the token in 2018.
After the FDIC placed SVB into receivership on Friday, the weekend will prove an uncertain time as the financial world waits to see if the U.S. government is able to find a buyer for the failed bank or will otherwise backstop losses, with insured deposits only backed up to $250,000. Former Treasury Secretary Lawrence Summers called for depositors to be paid back in full.
While the crypto industry seems to be safe from SVB contagion for now, with much of the sector moving to Signature Bank and other partners in the wake of Wednesday's voluntary liquidation of Silvergate, Circle could prove the exception. The firm is a fundamental cog in the crypto ecosystem, with USDC serving as a crucial on-ramp into crypto for investors globally.
Some onlookers expressed confidence that Circle would be able to weather the storm. The investor Adam Cochran tweeted that Circle could cover a possible $3.3 billion gap from the interest it collects from reserves, a sale share, or other venture debt. "This is a non-issue in my mind," he wrote.
The hedge fund North Rock Digital CEO Hal Press said that they has continued to buy more USDC at $0.88, having previously bought at $0.935; he believes that USDC will end up fully repegging, a worst case 70% of the cash via asset sales USDC would still be worth 93c.
Comparing USDC and USDTThe chart shows USDC dropped billions of dollar while USDT gained billions of dollars.
USDC could take over TETHER very soonA controversial debate is trending.
What is going to happen next for tether?
keep a close eye on the companies that manage tether.
There are so many trading pairs out there and if something happens it will be really bad
for the crypto industry.
I'm not going to get into it so be alert and up to date on what is going on.
USDC/USDT + BTCUSDC market cap growth versus USDT has exploded +580%! As you can see the market cap growth of USDC has exponentially risen against the market cap decline of USDT. Also, something that is very eye opening, BTC market cap growth fell below USDC market cap growth on the June 13th weekly candlestick last week. For this analysis I'm using the 1-week chart 2019 - 2022 present time frame. The indicators I'm using are my TTC: Triangular Trend Channel, pi RSI, Fibonacci MA7 & Fib VIP scripts.
I'm posting this as long USDC market cap growth versus USDT + BTC comparison market cap decline for a period of no less than 4 months. Plus, I believe USDC will overtake USDT forevermore as the #1 stable coin by market cap period. The reason I think this is USDT is not as safe as USDC, which is more transparent with its cash reserves. Especially after In May, the Terra blockchain was temporarily halted after the collapse of the stablecoin TerraUSD (UST) and Luna that wiped out almost $45 billion in market capitalization within a week. As of this writing the current market cap is as follows:
BTC = $402.37B
USDT = $66.84B
USDC = $55.88B
#longshortcompetition USDC/USDT + BTC
usdc market cap 4 hourPangolin’s Collaboration With Olympus DAO Creates AVAX Bonding Program
Leading Avalanche-Ethereum decentralized exchange, Pangolin has collaborated with Olympus DAO. The collaboration, among other things, is to create a bonding program and create further inroads in marketing efforts.
The collaboration has brought the World's first bonding program on Avalanche (AVAX). Under the bonding program, users would trade for Pangolin governance tokens (PNG) Liquidity Provider (LP) tokens. The trade would occur at a concession to regular rates. Pangolin won't sell them. But would lock them in Olympus' Bond Treasury.
Bonding Programs Come With Many Benefits
Bond programs create far more benefits for decentralized finance (DeFi) institutions than the eye can see.
One of these benefits is the control of liquidity. DeFi institutions get to own and control their liquidity flows in the markets they operate. In this case, Pangolin will have a far greater say in its liquidity flows within the markets where its tokens are listed.
Another benefit is the stabilization of token prices. The cryptocurrency space, and especially the DeFi space, is known for the high volatility of tokens. Bonding programs are known to stabilize the token prices and lower their risk levels.
It also enhances the longevity of its tokens. Yield farmers within the DeFi space are known for their many predatory practices. Their aim, which is always quick profits, is often at odds with project teams' and members' aims.
It gives the PNG token a new lease on life. Bonding helps to bring an elongated view to the Pangolin project. The revenue generated from the programs can now be equitably distributed and will increase participation within the Pangolin ecosystem.
The bonding program has also reduced the exit risk of the project, as Liquidity Providers often set aside a significant amount of their token LP activities. Bonds create breathing space for these LPs as there exists zero motivation to exit early for investors.
The New Partnership Is A Perfect Match
Under the terms of the partnership, Pangolin would list its PNG tokens on the Olympus Pro X bond marketplace. The Olympus Pro X bond marketplace is one of the World's top-tier marketplaces for such bonds within the DeFi space.
Olympus DAO is also one of the leading DeFi structures that are democratically driven. With a solid codebase and governance rules that prevent monopoly, Olympus DAO avoided the human errors that often bring down DeFi institutions of its kind.
Pangolin is also going to draw on the human resources of Olympus DAO. The Olympus DAO team will help Pangolin to improve its project rankings. Thus, bringing in users from the ETH community who are seeking projects that have a long-term perspective.
As a World-first project on Avalanche (AVAX), the bond project will provide proof-of-concept sorely needed within the Avalanche space. It will spur further activity within the Avalanche (AVAX) ecosystem and bring new projects with bold ideas that have potential.
Pangolin proved its mettle in recent times when Ethereum went through its hangover of high transaction fees. Many saw it as a suitable link between Avalanche and Ethereum when things went dark.
Though Ethereum Improvement Proposal (EIP) 1559 has given all of us a breather (somewhat), we need to do more on the road to ETH 2.0. In the meantime, Pangolin is one platform that gives Avalanche (AVAX) D'Apps and their various communities the breathing space needed for innovation to flourish.
While the Ethereum community tries to resolve its issues, hope exists that we will continue our transactions easily. That is, without being at the mercy of the Ethereum miners, who care less about everyone else and more for themselves.
Something antithetical to the community spirit espoused and experienced by the founders and early users.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Top 10 Cryptocurrencies & Their Real World UsesIn this video we explain the real world use cases of each of the top 10 cryptocurrencies. A lot of focus in crypto is focused on the price and the volatility of each coin without many people necessary understanding what their purposes are.
Bitcoin (BTC)
Digital Gold, a store of wealth and protection against inflation… this is because there’s a limited supply of BTC (21 Million) that will ever be mined. It’s supply cannot be inflated like FIAT currencies (Dollar, Pound, Euro etc) can simply be printed.
Collateral in DeFi, in many DeFi (Decentralised Finance) Bitcoin is used as collateral for you to borrow against the value of in return for a cryptocurrency loan for example. We will explain DeFi in a little more detail later.
Banking the unbanked, in many struggling economies (El Salvador for example) Bitcoin is a useful way for communities to gain access to banking facilities. While in many of those regions economies are still largely cash-driven and people cannot afford to pay for transportation to visit banks for registration, the number of those who have access to or own mobile phones is increasing. Thus, using digital wallets to transfer Bitcoin independent of traditional banks may provide a viable alternative for people without a bank account to participate in finance and to create a store of value.
Ethereum (ETH)
Smart contracts, In essence, smart contracts are created to automatically execute and complete processes, such as a payment process, in digitised form. This is the key to Ethereum’s success and its core use case. It enables developers to create complex applications powered by Ethereum’s platform.
DeFi applications, The largest category of smart contracts on Ethereum’s platform is in the form of Decentralised Finance applications.
With DeFi, you can do most of the things that banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it’s faster and doesn’t require paperwork or a third party. As with crypto generally, DeFi is global, peer-to-peer (meaning directly between two people, not routed through a centralized system), and open to all.
NFTs, an emerging use case for Ethereum is in the form of payment for NFTs… you will find that most NFT’s prices are denominated in ETH. NFTs for anyone that isn’t aware are essentially digital art that its authenticity is confirmed in blockchain data.
Think of it as a version of the Twitter blue tick for limited edition digital art.
Cardano (ADA)
Store of Value & Smart Contracts - The Cardano coin can be used as a transfer of value in a similar way that cash is currently used. This is not very different from other cryptocurrencies such as Ethereum and Bitcoin, but ADA has other uses as well.
One of the core principles of Cardano is its PoS blockchain protocol where ADA is staked to the blockchain to successfully verify transactions on the blockchain. This is where Cardano crypto comes in handy. Those who stake their ADA to the blockchain are rewarded for their efforts with more Cardano crypto in return. This staking system helps maintain security throughout the blockchain.
There is also the use of ADA in voting. In Cardano, unlike other blockchain projects, it is not miners who vote and decide on changes to the protocol, it is token holders. Therefore, when a new change or development is proposed to the Cardano blockchain, Cardano crypto holders use their ADA to vote on these proposals. This way, everyone who owns the cryptocurrency has a say in its development.
ADA also can be used to power the smart contract platform on the Cardano blockchain. Developers utilise ADA to create smart contracts and applications that run on the secure, decentralised Cardano blockchain.
In the case of running smart contracts it is cheaper in transaction fees than Ethereum.
Tether (USDT)
Stablecoin - Backed by US dollars and value is pegged to always be at-or very close to £1 per 1 USDT
Transferring Crypto - Lots of people will use Tether as a middleman when transferring money from one cryptocurrency to another without paying the fees associated either between each crypto or back and forth into Fiat currencies.
Generating a Yield - Some tether users also simply hold their funds in Tether because it generates a higher yield or interest rate than their money would in a bank for example.
Binance Coin (BNB)
Binance Coin is the cryptocurrency issued by the Binance exchange and trades with the BNB symbol.
BNB was initially based on the Ethereum network but is now the native currency of Binance's own blockchain, the Binance chain.
Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy, or "burn," Binance coins held in its treasury.
Binance was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.
Ripple (XRP)
Very quick & cheap cross border payments
,
The primary use case for XRP is intended to be for transfer of other currencies (or indeed commodities or assets such as gold or oil) over the Ripple network. Each time a money (or asset) transferring organisation such as a bank uses the network to conduct a transfer and settlement, the cost is deducted in a small amount of XRP.
Cross-border payments between banks and organisations currently run on a system called SWIFT… a system created in 1973. This is essentially what Ripple and its coin XRP could replace with a much quicker and cheaper system.
Solana (SOL)
Smart Contracts platform.
Much in the same way that both Ethereum & Cardano is used on a day to day basis as developers who make applications on the Solana blockchain pay SOL coins for the processing / transaction fees.
Large numbers of NFTs are also available on the Solana blockchain.
Polkadot (DOT)
Interoperability - Allow different blockchains to talk to each other and share data / features between each other. This is useful for developers when making new blockchains, as they are able to use sections of features from different chains without the need to create them from scratch each time.
Unlimited Supply - Unlike most other cryptocurrencies, DOT isn’t limited in supply. This is designed to incentivise the network and dynamically adjust according to participation rates of users.
Dogecoin (DOGE)
Meme coin which was originally created as a joke or parody of the crypto world.
Now however has gained massive popularity and even is considered for payments as a real world use. This is still to be widely accepted however.
USDC (USDC)
Stablecoin, backed by US dollars and value is pegged to always be at-or very close to £1 per 1 USDT. Not as popular or widely used by the market than Tether.
Major SableCoin MarketCap Chart Hyper 🐂 🎨🖼️One could only conclude once seeing such
overwhelming Bullish information..
Crypto as an asset class.. be expanding rapidly ☄️💥🌊🏄♀️
CRYPTOCAP:USDC
CRYPTOCAP:USDT
