VICTORIA, Seychelles–(BUSINESS WIRE)–#blockchain–KuCoin Research, the dedicated research arm of KuCoin, a top 5 global cryptocurrency exchange, has released its inaugural report. This report highlights a bullish sentiment in the cryptocurrency market, particularly with historic inflows of stablecoins.
In this first monthly market insight report, KuCoin Research provides a comprehensive overview of recent cryptocurrency market trends. The report explores the sustained bullish sentiment towards digital assets, notably Bitcoin, which has driven up its price and sparked increased interest in the cryptocurrency market. Data reveals a consistent trend of growing positions by financial institutions and hedge funds since mid-October 2023, reaching historic levels of bitcoin futures and options open interest.
Additionally, the report emphasized the capital inflow into the cryptocurrency market, specifically focusing on the continuous rise of USDT. The issuance of USDT in the past six months has shown a highly positive correlation with the price of Bitcoin, reaching all-time highs and contributing to the overall increase of stablecoins. This solidifies USDT’s leading position in the stablecoin market. Regarding investments trends, the report showcases the recovery of the fundraising market in November, reaching new highs in both the number and amount of investments.
Johnny Lyu, CEO of KuCoin, expressed excitement about the establishment of KuCoin Research and the launch of their first monthly report. He stated, “This report shows clear industry data indicating a surge of bullish sentiment in the cryptocurrency market, marked by increased capital inflow, stablecoin issuance, and recovered institutional and funding interests.”
The KuCoin Research Market Insights Report for December 2023 is now available on KuCoin blog. The KuCoin research team aims to deliver institutional-grade analysis, covering a wide range of topics, from market trends and project evaluations to regulatory updates and technological advancements, providing the most relevant and up-to-date information.
About KuCoin:
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides Spot trading, Margin trading, P2P Fiat trading, Futures trading, Staking, and Lending to its 30 million users in more than 200 countries and regions. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. In 2023, KuCoin was named one of the Best Crypto Exchanges by Forbes and recognized as a highly commended global exchange in Finder’s 2023 Global Cryptocurrency Trading Platform Awards. Learn more at https://www.kucoin.com/
About KuCoin Research:
KuCoin Research is a leading provider of research and analysis in the cryptocurrency industry. With a team of experienced analysts and researchers, KuCoin Research aims to deliver high-quality insights and reports to empower investors and industry professionals.
Contacts
For media inquiries: media@kucoin.com
