- Stablecoin minting on Ethereum declines as BTC faces its 5th red week.
- In 11 hours, 1 billion USDT and 250 million USDC were minted on Tron and Solana.
- Analysts believe BTC will pump soon and stablecoins are being prepared for the spike.
The pioneer cryptocurrency Bitcoin (BTC) seems to be on a stagnant rut as new traders stew in the fear sentiment. While seasoned analysts remain determined and continue to buy the dip or hold onto their BTC, there is no denying that the Crypto Fear and Greed Index points to a score of 37 marking a ‘Fear’ sentiment.
Bitcoin Faces Fifth Red Week in a Row
Despite this, seasoned analysts draw comparisons to previous bull cycle movements to chart a bullish course for Bitcoin in the coming weeks and months ahead. Besides this, several indicators on the BTC price chart suggest bullish pumps in Bitcoin’s future. Another indicator comes to light as mentioned in the post below.
The post above states how Bitcoin has not had 5 red weeks in a row since the bear market. This is seen by most as a reason to succumb to FUD. However, the post goes on to say that since we are in a bull market, the price of BTC will likely begin to pump in the next week. Responses to this post echo the same optimistic opinion.
Stablecoin Minting on Ethereum Declines
More stablecoins (USDT & USDC) were minted in the past 11 hours, including 1B $USDT on #Tron and 250M $USDC on #Solana!
— Spot On Chain (@spotonchain) February 19, 2025
Since the start of 2025, #Tether has minted 3B $USDT on Tron, while #Circle has minted 7.75B $USDC on Solana. Notably, direct minting on Ethereum has been… https://t.co/6N6Iv5sJoi pic.twitter.com/DGHWd5u5Yt
In the meantime, it seems more stablecoins are being minted and in the last 11 hours alone, 1 billion USDT was minted on Tron and 250 million USDC was minted on Solana. The post goes on to elaborate saying that since the start of 2025, Tether minted 3 billion USDT on Tron, while Circle minted 7.75 billion USDC on Solana.
The post also mentions how direct stablecoin minting on Ethereum (ETH) has been minimal. This is another mark of Ethereum losing momentum in terms of growth in the blockchain. In turn, ETH price struggling to set a new ATH this cycle could be due to low activity on the blockchain. However, on the plus side, ETH gas fees has fallen tremendously.
