North America Leads In Crypto $1M+ Transactions As Stablecoins Dominate: Report
Portfolio Pulse from Murtuza Merchant
North America, led by the United States and Canada, dominates in cryptocurrency transactions of $1 million or more, accounting for 76.9% of the region's crypto volume and 24.4% of global activity. The region's crypto market amassed an estimated $1.2 trillion in value received on-chain between July 2022 and June 2023. Stablecoins remain the dominant crypto asset, despite a decline in usage since February 2023. Coinbase Inc. CEO Brian Armstrong remains optimistic about the potential of decentralized finance (DeFi), despite a decline in its usage in North America.
October 24, 2023 | 2:34 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The potential launch of a spot Bitcoin ETF in the U.S. has generated enthusiasm, but recent inflows suggest a more cautious stance among investors. Solana has emerged as the most favored altcoin in 2023, contrasting with outflows from Ethereum.
The news suggests a cautious sentiment among investors regarding the potential launch of a Bitcoin ETF in the U.S. This could lead to a neutral short-term impact on Bitcoin's price. The favoring of Solana over Ethereum could potentially impact their respective prices, but the exact direction is not clear from the news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Coinbase Inc. CEO Brian Armstrong remains optimistic about the potential of decentralized finance (DeFi), despite a decline in its usage in North America.
The CEO's optimism about DeFi could potentially influence investor sentiment towards Coinbase, but the declining usage of DeFi in North America could counteract this. Therefore, the short-term impact on Coinbase's stock price is likely to be neutral.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80