{"id":532776,"date":"2023-05-15T13:25:11","date_gmt":"2023-05-15T13:25:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=532776"},"modified":"2024-06-11T08:11:14","modified_gmt":"2024-06-11T08:11:14","slug":"stablecoins-interest-spikes-traders-look-exit-market","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/stablecoins-interest-spikes-traders-look-exit-market\/","title":{"rendered":"Stablecoins Interest Spikes As Traders Look To Exit Market"},"content":{"rendered":"
Data shows there has been a large spike in interest around stablecoins recently, a sign that investors of Bitcoin and other assets may be looking to exit.<\/p>\n
According to data from the on-chain analytics firm Santiment<\/a>, there has been a major uptick in the social volume of the stablecoins recently. The “social volume<\/a>” refers to an indicator that measures the total number of social media text documents that are talking about a certain topic or term.<\/p>\n The social media text documents here have been collected by Santiment and include a variety of sources like Reddit, Twitter, Telegram, and other internet forums.<\/p>\n Something to note about the metric is that it only tells us about the unique number of such posts that are mentioning the given term at least once. This means that even if a thread includes several mentions of the topic, its contribution towards the social volume will still remain only one unit.<\/p>\n The social volume can provide insight into the degree of attention any particular coin is getting on social media platforms. Whenever this indicator’s value goes up, it means that the general interest in the asset among investors is rising currently.<\/p>\n Now, here is a chart that shows the 7-day change in the social volume for the various assets in the cryptocurrency sector (including the stablecoins):<\/p>\n <\/p>\n As displayed in the above graph, the social volume of a lot of the volatile assets has registered a negative 7-day change, implying that there is a lesser amount of discussion happening related to them right now as compared to a week ago.<\/p>\nHow the metric's value has changed for the different coins in the market during the past week | Source: Santiment on Twitter<\/a><\/pre>\n