Matrixport: The issuance of stablecoins provides support for cryptocurrency prices, and short selling ETH is a good choice to hedge against long BTC orders
2024-04-08 05:43:54
On April 8th, Matrixport posted on social media that the Tether coin minting activity showed an increase in the inflow of fiat currency to cryptocurrency, which continues to support the price of cryptocurrency. In the past 7 days, Tether's circulation has increased by $2 billion, and the issuance rate is even faster than in early January. In addition, Matrixport stated that it had previously criticized Ethereum's upgrade policy when analyzing the impact of each upgrade on ETH prices. With the end of the Denchun upgrade, the market share of Ethereum has decreased from 19% to 16%. The institution suggests using ETH short position strategy as a hedge against BTC long position strategy
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