{"id":532776,"date":"2023-05-15T13:25:11","date_gmt":"2023-05-15T13:25:11","guid":{"rendered":"https:\/\/wncen.com\/?p=532776"},"modified":"2024-06-11T08:11:14","modified_gmt":"2024-06-11T08:11:14","slug":"stablecoins-interest-spikes-traders-look-exit-market","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/stablecoins-interest-spikes-traders-look-exit-market\/","title":{"rendered":"Stablecoins Interest Spikes As Traders Look To Exit Market"},"content":{"rendered":"

Data shows there has been a large spike in interest around stablecoins recently, a sign that investors of Bitcoin and other assets may be looking to exit.<\/p>\n

Stablecoins Have Observed A Sharp Rise In Social Volume Recently<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, there has been a major uptick in the social volume of the stablecoins recently. The “social volume<\/a>” refers to an indicator that measures the total number of social media text documents that are talking about a certain topic or term.<\/p>\n

The social media text documents here have been collected by Santiment and include a variety of sources like Reddit, Twitter, Telegram, and other internet forums.<\/p>\n

Something to note about the metric is that it only tells us about the unique number of such posts that are mentioning the given term at least once. This means that even if a thread includes several mentions of the topic, its contribution towards the social volume will still remain only one unit.<\/p>\n

The social volume can provide insight into the degree of attention any particular coin is getting on social media platforms. Whenever this indicator’s value goes up, it means that the general interest in the asset among investors is rising currently.<\/p>\n

Now, here is a chart that shows the 7-day change in the social volume for the various assets in the cryptocurrency sector (including the stablecoins):<\/p>\n

\"Stablecoin<\/p>\n

How the metric's value has changed for the different coins in the market during the past week | Source: Santiment on Twitter<\/a><\/pre>\n
As displayed in the above graph, the social volume of a lot of the volatile assets has registered a negative 7-day change, implying that there is a lesser amount of discussion happening related to them right now as compared to a week ago.<\/p>\n
Related Reading: Bitcoin Tweets Surpass Dogecoin Despite Meme Coin Craze<\/a><\/div>\n
Some of the assets like Bitcoin have seen a positive 7-day change in the metric, but the increase has only been minuscule for them, implying that their social volume is relatively unchanged.<\/p>\n
Interestingly, while the volatile assets may have seen decreasing or sideways-moving social volumes, the stablecoins have seen a completely different trend with the metric; their social volumes have sharply surged in the past week.<\/p>\n
USD Coin (USDC)<\/a>, which is the stablecoin second only to Tether (USDT)<\/a> in terms of market cap, has seen an extraordinary rise of more than 300% in terms of this metric. This suggests that discussions around the coin have increased by more than 300% during the past week.<\/p>\n
Tether itself has observed a positive 7-day change in the social volume of more than 30%, which, while much lesser than USDC’s, is still quite significant nonetheless.<\/p>\n
Related Reading: This Week In Bitcoin And Crypto: Key Dates That Will Impact Prices<\/a><\/div>\n
Generally, investors use stables whenever they want to escape the volatility associated with the other coins in the sector. So, since the interest around these tokens has surged recently while the volatile cryptocurrencies have been seeing a red period, it would appear that holders may once again be seeking the safety of this stable form of digital assets.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $27,300, down 2% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC has seen some recovery | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from iStock.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"
Data shows there has been a large spike in interest around stablecoins recently, a sign that investors of Bitcoin and other assets may be looking to exit. Stablecoins Have Observed A Sharp Rise In Social Volume Recently According to data from the on-chain analytics firm Santiment, there has been a major uptick in the social volume of the stablecoins recently. The “social volume” refers to an indicator that measures the total number of social media text documents that are talking about a certain topic or term. The social media text documents here have been collected by Santiment and include a variety of sources like Reddit, Twitter, Telegram, and other internet forums. Something to note about the metric is that it only tells us about the unique number of such posts that are mentioning the given term at least once. This means that even if a thread includes several mentions of the topic, its contribution towards the social volume will still remain only one unit. The social volume can provide insight into the degree of attention any particular coin is getting on social media platforms. Whenever this indicator’s value goes up, it means that the general interest in the asset among investors is rising currently. Now, here is a chart that shows the 7-day change in the social volume for the various assets in the cryptocurrency sector (including the stablecoins): How the metric’s value has changed for the different coins in the market during the past week | Source: Santiment on Twitter As displayed in the above graph, the social volume of a lot of the volatile assets has registered a negative 7-day change, implying that there is a lesser amount of discussion happening related to them right now as compared to a week ago. Related Reading: Bitcoin Tweets Surpass Dogecoin Despite Meme Coin Craze Some of the assets like Bitcoin have seen a positive 7-day change in the metric, but the increase has only been minuscule for them, implying that their social volume is relatively unchanged. Interestingly, while the volatile assets may have seen decreasing or sideways-moving social volumes, the stablecoins have seen a completely different trend with the metric; their social volumes have sharply surged in the past week. USD Coin (USDC), which is the stablecoin second only to Tether (USDT) in terms of market cap, has seen an extraordinary rise of more than 300% in terms of this metric. This suggests that discussions around the coin have increased by more than 300% during the past week. Tether itself has observed a positive 7-day change in the social volume of more than 30%, which, while much lesser than USDC’s, is still quite significant nonetheless. Related Reading: This Week In Bitcoin And Crypto: Key Dates That Will Impact Prices Generally, investors use stables whenever they want to escape the volatility associated with the other coins in the sector. So, since the interest around these tokens has surged recently while the volatile cryptocurrencies have been seeing a red period, it would appear that holders may once again be seeking the safety of this stable form of digital assets. BTC Price At the time of writing, Bitcoin is trading around $27,300, down 2% in the last week. Looks like BTC has seen some recovery | Source: BTCUSD on TradingView Featured image from iStock.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":532802,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,37455,15241,87934],"class_list":["post-532776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto-traders","tag-stablecoins","tag-stables"],"acf":[],"yoast_head":"\nStablecoins Interest Spikes As Traders Look To Exit Market<\/title>\n<meta name=\"description\" content=\"Data shows a spike in interest around stablecoins recently, a sign that investors of Bitcoin and other assets may be looking to exit.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Stablecoins Interest Spikes As Traders Look To Exit Market","url":"http:\/\/wncen.com\/news\/stablecoins-interest-spikes-traders-look-exit-market\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/stablecoins-interest-spikes-traders-look-exit-market\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1386733693.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1386733693.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","crypto traders","stablecoins","stables"],"dateCreated":"2023-05-15T13:25:11Z","datePublished":"2023-05-15T13:25:11Z","dateModified":"2024-06-11T08:11:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Stablecoins Interest Spikes As Traders Look To Exit Market\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/stablecoins-interest-spikes-traders-look-exit-market\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/stablecoins-interest-spikes-traders-look-exit-market\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-1386733693.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/iStock-1386733693.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"crypto traders\",\"stablecoins\",\"stables\"],\"dateCreated\":\"2023-05-15T13:25:11Z\",\"datePublished\":\"2023-05-15T13:25:11Z\",\"dateModified\":\"2024-06-11T08:11:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/iStock-1386733693.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/532776"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=532776"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/532776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/532802"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=532776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=532776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=532776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}