Liquidity Returns as USDC Drives a Fresh Upswing in the $306B Stablecoin Market

In November, perpetual decentralized exchange (perp DEX) platforms recorded a substantial $1.13 trillion in on-chain derivatives action, indicating a robust trading environment despite market fluctuations. This figure reflects the ongoing interest and activity in the derivatives sector of cryptocurrency trading.

Bitcoin's price has stabilized around $91,453, showing resilience after recent fluctuations and a significant sell-off. Analysts are observing key resistance levels as bulls attempt to build momentum while bears guard these critical thresholds. The market sentiment remains cautiously optimistic as Bitcoin approaches recent highs.

Coinbase has initiated a pilot program for a cryptocurrency-based basic income in New York, partnering with Givedirectly to distribute USDC to eligible participants. This initiative aims to explore the potential of digital currencies in providing financial support to underserved communities.

Beijing has intensified its prohibitive stance on cryptocurrency speculation amid growing risks associated with the market. This move comes as the Chinese government aims to mitigate potential financial instability linked to digital currencies, reflecting a broader trend of regulatory scrutiny in the crypto space.

Publicly traded bitcoin miners have experienced a significant uptick in performance, rebounding from previous declines and capitalizing on favorable market conditions. This resurgence is marked by a notable increase in bitcoin prices, which have recently shown momentum as they approach recent highs, indicating a recovery in investor confidence.

Bitcoin's price has shown signs of recovery, trading around $91,000 after a significant sell-off, although trading volume has decreased. Analysts are monitoring key resistance levels, particularly around $90,000, as the market sentiment shifts cautiously optimistic.

A new broker, Mortgage On Chain, has emerged in Australia, specifically targeting cryptocurrency investors interested in property ownership. This initiative aims to bridge the gap between digital assets and real estate, providing a unique opportunity for crypto holders to invest in the Australian property market.

Bitcoin's price has shown mixed momentum but remains bullish, recently trading around $91,000 after a recovery from a significant sell-off. Analysts have noted reclaimed support levels and a filled fair value gap, suggesting potential for further upward movement in the cryptocurrency market.