CryptoQuant CEO: For the next round of increase, the U.S. Bitcoin market is more important than the offshore global market
CryptoQuant CEO Ki Young Ju stated that the U.S. Bitcoin market is more important than the offshore global market for the next round of increases. Stablecoins are often seen as global offshore buyer liquidity. Their market value is growing, but their ratio to BTC and ETH's market value is declining, as are freely floating market values and foreign exchange reserves. The next surge in the market cannot be driven by stablecoins alone. Coinbase holds 46% of the share in the global BTC/USD spot market, with its influence continually rising, possibly driven by institutional brokerage services. The Korean Won is the second largest legal tender in trading volume, but it mainly deals with altcoins. Last month, 82% of Upbit's trading volume came from altcoins. Moreover, BTC/USD trading volume on Coinbase is five times that of BTC/KRW trading volume on Upbit.
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