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KuCoin Research Report: Parallel Trends – Crypto Market Entered Extreme Greed Zone and Surge in $4.55 Billion Rise in USDT & USDC Issuance
VICTORIA, Seychelles, March 12, 2024 /PRNewswire/ — KuCoin Research, a prominent analytical arm of the global leading cryptocurrency exchange KuCoin, has released its March edition report, revealing pivotal trends in the crypto market for February 2024. The report highlights an extreme greed sentiment catalyzed by surging major stock indices and notable performances in Bitcoin and AI-driven crypto projects. It also delves into the significant issuance increase in stablecoins USDT and USDC, with the issuance volume of USDT increasing by 2.79 billion in February, and that of USDC increasing by 1.76 billion, signifying heightened market liquidity.
February witnessed the crypto market aligning closely with AI advancements, with the sector accelerating token issuances and exploring AI-integrated projects. Amidst these developments, the Ethereum network gears up for the Dencun upgrade, aiming to enhance Layer2 solutions’ efficiency. Investment trends maintained a consistent focus on CeFi, infrastructure, and GameFi, amidst a landscape shaped by evolving regulatory dynamics.
Further, the report details the FDUSD’s issuance surge and TUSD’s recovery, reflecting the fluid dynamics within the stablecoin domain. It also touches on the ETH Dencun upgrade’s potential impacts and the momentum in Layer2 and public chain ecosystems, exemplified by significant activities in the BTC and ETH spheres.
Johnny Lyu, CEO of KuCoin, expressed enthusiasm over the report’s findings, “These insights underscore the vibrant evolution of the crypto market, reflecting both the challenges and immense opportunities within this dynamic sector. KuCoin is excited to continue engaging with and contributing to these market trends, fostering growth and innovation.”
The report embodies KuCoin Research’s commitment to providing astute and comprehensive analyses, empowering stakeholders across the crypto industry. It serves as a crucial resource for understanding the intricate market dynamics and preparing for future developments in the crypto landscape.
Read Full Report Here.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 800 digital assets and currently provides Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 30 million users in more than 200 countries and regions. KuCoin is currently one of the top 8 crypto exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards. Learn more at https://www.kucoin.com/.
About KuCoin Research
KuCoin Research is a leading provider of research and analysis in the cryptocurrency industry. With a team of experienced analysts and researchers, KuCoin Research aims to deliver high-quality insights and reports to empower investors and industry professionals.
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