CryptoQuant CEO: The US Bitcoin market is more important than the global offshore market for the next round of growth
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Odaily Odaily News CryptoQuant CEO Ki Young Ju wrote on X that the US Bitcoin market is more important than the global offshore market for the next round of increases. Stablecoins are often seen as global offshore buy-side liquidity, and their market value is growing, but the ratio relative to the market value of BTC and ETH is declining. The same is true for the freely circulating market value and exchange reserves. Stablecoins alone cannot drive the next market surge. Coinbase has a 46% share of the global BTC/USD spot market, and its influence is rising, which may be driven by institutional brokerage services. The Korean won is the second most traded fiat currency, but it is mainly Altcoin. 82% of Upbit's trading volume last month came from Altcoin. In addition, the BTC/USD trading volume on Coinbase is five times that of BTC/KRW on Upbit.
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