dollar - has fallen $12 billion since June, while tether's circulating supply has dropped over $14 billion since May. The circulating supply of USD Coin - a stablecoin that's pegged to the U.S. "Low volatility was following a large bitcoin bear market," Goldman's analysts wrote, adding that "crypto QT" (quantitative tightening) occurred as investors poured out of stablecoins like tether, reducing liquidity. 2018, when prices steadied for a while before rising steadily. In a note released Thursday, analysts at the bank said there were parallels with bitcoin's trading in Nov. Goldman Sachs suggested we may be close to the end of a "particularly bearish" period in the latest cycle of crypto movements. Visa, meanwhile, teamed up with crypto exchange FTX to offer debit cards linked to users' trading accounts. Mastercard announced a service that allows banks to offer crypto trading, having previously launched a new blockchain security tool for card issuers. Matteo Dante Perruccio, president of international at digital asset management firm Wave Financial, said he's seen a "counterintuitive increase in demand of traditional institutional investors in crypto during what is a time where generally you would see interest fall off in the traditional markets."įinancial institutions have continued taking steps into crypto despite the fall in prices and waning interest from retail investors. "Bitcoin being stuck in such a range does make it boring, but this is also when retail loses interest and smart money starts to accumulate," Ayyar said. There are signs of an "accumulation phase," according to Ayyar, when institutional investors are more willing to place bets on bitcoin given the lull in prices. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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