Go All In On Bitcoin, Says CryptoQuant CEO

The mainstream adoption of Bitcoin and digital assets is going great, and there are all kinds of moves made by important names in the crypto space that support this.

Now, it’s been revealed that Ki Young Ju, chief executive of on-chain insights platform CryptoQuant, says that it’s time to go all-in on Bitcoin. Check out his tweet below:

He also posted this message:

Bitcoin and stablecoins

As the online publication the Daily Hodl already noted, in order to support his bullish call, Ki Young Ju pointed to the correlation between the price of Bitcoin and the stablecoins ratio, a metric that divides BTC reserves by all stablecoin reserves stored in exchanges.

The CryptoQuant executive pointed out the fact that a plummeting stablecoin ratio indicates that Bitcoin and the broader crypto market may be gearing up for the next leg up.

“The crypto market is getting better in terms of supply/demand. Relatively many stablecoins across all exchanges thanks to the rise of USDC. BTC holdings are decreasing fast. Here’s the ratio that BTC holdings in USD divided by stablecoins holdings across all exchanges.”

He also said that the stablecoins market is flashing buy signals.

“For all stablecoins, Number of issuing event is increasing Number of redeeming event is decreasing And stablecoins circulating supply & exchange holdings hit an all-time high yesterday. Fewer people cashing out, more people buying stablecoins through fiat to purchase crypto. It’s bullish.”

Stay tuned for more news about crypto and adoption.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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