Crypto analytics firm IntoTheBlock noted that retail investors have shown muted participation in Bitcoin's rally towards all-time highs, with on-chain data and web searches indicating a lack of retail froth. This suggests that institutional investors may be driving this phase, with eyes on ETFs as potential accumulators. Despite Bitcoin's rapid price movement, metrics such as web searches and application downloads remain subdued, indicating a quiet retail front. The surge in Bitcoin's price has been mainly driven by strong inflows into U.S.-listed spot bitcoin exchange-traded funds (ETF).
Tether (USDT) has reached a new all-time high in market capitalization, nearing $84 billion, after generating $1.5 billion in net profits in Q1 of 2023. The circulating supply of USDT has increased by almost 30% this year. Meanwhile, competitor USD Coin (USDC) has struggled since the collapse of Silicon Valley Bank (SVB) in March, with volumes and supply decreasing significantly.
Long-term Dogecoin holders, who have held the cryptocurrency for over a year, now hold over $3.76 billion worth of DOGE. The number of DOGE holders has reached an all-time high of 3.18 million addresses, with 74.66% of all Dogecoin wallets belonging to long-term holders. Elon Musk's lawyers have filed a motion to dismiss a lawsuit accusing him of operating a pyramid scheme to prop up Dogecoin. DOGE is currently trading at $0.077, down 8.27% in the last 24 hours.
Analytics firm IntoTheBlock reports that long-term Dogecoin (DOGE) holders now control 44.8 billion DOGE worth over $3.76 billion, the highest level since October 2021. The number of DOGE hodlers has also reached a new all-time high of 3.18 million addresses, representing 74.66% of all Dogecoin wallets. The rise in long-term DOGE holders comes as the memecoin rallies from a weekly low of $0.071 to a high of $0.085, with 61% of DOGE holders in profit and 34% in the red.
