Tether Grows, Whales Dump, and ETH Hash Rate at ATHs
AUG 25, 2021 • 4 Min Read
Disclosure: Delphi Ventures and members of our team have invested in BTC and ETH. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice.
Key Takeaways
USDC issuance falls, and USDT slips back into pole position. However, Cirlce recently announced a re-allocation of assets backing USDC into safer investments like bank deposits and short-term treasuries, which could inspire more confidence in USDC and push issuance back up.
BTC in whale wallets is distributing while smaller wallets accumulate more, which is an unfavorable situation and leans bearish.
Ethereum’s mining hash rate hits ATH and surpasses May’s peak hash rate despite lower miner revenue (due to EIP-1559) and the impending POS merger.
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