#BANANA gave a shallow break of the falling wedge #pattern and still going through consolidation. Price can #move down from here or after a retest of the resistance, expecting a new lower low. #crypto
📈 Stablecoin supply is approaching a new all-time high. Total supply now sits at ~$314B, just 1% below the $317B ATH. Since the start of February, supply is up $7B. #stablecoin
🇺🇸🆕 U.S. senators are seeking a compromise on stablecoin yield to advance the Clarity Act. Some lawmakers and #crypto advocates support restricting rewards tied to account balances while allowing incentives linked to account activity. Senators Angela Alsobrooks and Thom Tillis are working on compromise language aimed at preventing deposit flight while preserving room for innovation. #stablecoin
$USDT DOMINANCE is currently consolidating within a descending triangle pattern. It is facing rejection from the pattern’s resistance trendline while #trading above a key horizontal demand zone. The 50MA is also acting as support beneath the current price action. A breakdown below the #pattern and the demand zone could trigger further downward movement in $USDT Dominance. It’s important to note that $USDT Dominance often exhibits an inverse correlation with the broader #cryptocurrency market. #crypto
Active addresses, transfers, and #smart contract calls continue to rise, surpassing 2021 levels, even as $ETH price has dropped over 50%. The reason for this discrepancy is capital outflows. #network #growth does not equate to price increases if liquidity is leaving. 💛