Crypto market remains on the edge as ratings agency Moody’s downgrades the United States credit ratings for the first time in history. This decision comes citing “unsustainable” US federal debt, along with the interest rate burden. Altcoins have specifically come under partial selling pressure today with ETH, SOL, XRP, DOGE losing 2% each, as investors take a cautious approach. Crypto Market on Edge As Stablecoin Reserves Remain Rangebound Crypto analyst Ali Martinez has highlighted a notable trend in stablecoin activity on Binance, with reserves fluctuating within a tight range of $30 billion to $34 billion. This stability in supply highlights that investors are maintaining a cautious stand, opting to hold the stablecoins instead of rotating it back into crypto. Amid the uncertain market conditions, investors are less willing to take additional risks. Source: Ali Martinez On the other hand, all eyes are currently on the passing of the stablecoin act... Read More at Coingape.com
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