Spike in Capital Rate of USDC-USDT Perpetual Contract Transaction on Bybit Platform

03/11/2023 07:41 • Metaverse Matters • 78 views

On March 11, according to Coinglas data, the capital rate of USDC-USDT perpetual contract transaction on the Bybit platform has risen to 0.3567%.

Bybit platform USDC-USDT perpetual contract transaction to capital rate rose to 0.3567%

Analysis based on this information:

According to Coinglas data, the capital rate of USDC-USDT perpetual contract transaction on the Bybit platform has risen to 0.3567% on March 11. This development has caused quite a stir in the crypto community, as it suggests that many traders are showing greater interest in this type of currency agreement, which is a form of futures contract that has no expiration date, making it an attractive option for those who want to take long-term positions in digital assets.

USDC and USDT refer to the two stablecoins that have been pegged to the U.S. dollar on a one-to-one basis. These stablecoins aim to provide stability to the volatile cryptocurrency market, allowing traders to hold positions without the volatility risk that is associated with other cryptocurrencies. The capital rate, also known as the funding rate, is the fee that perpetual contract traders are required to pay to maintain their positions.

The rise in capital rate on the Bybit platform suggests that more traders are opening positions in the USDC-USDT perpetual contract. This increase in the demand for USDC-USDT perpetual contract is an indication that traders in the crypto community have started to consider stablecoins as a source of hedge against the volatility of cryptocurrencies, as opposed to relying solely on fiat currencies.

The higher capital rate may also indicate a bullish outlook for the USDC-USDT market. A bullish market means investors expect prices to rise, and this could lead to an increased demand for USDC-USDT contracts. As more traders bet on the growth of the market and take long positions, there may be a potential increase in the price of these stablecoins, leading to a higher capital rate.

In conclusion, the rise in the capital rate of USDC-USDT perpetual contract transaction on the Bybit platform suggests that more traders are embracing the idea of stablecoins as a hedge against volatility in the cryptocurrency market. This is especially significant given the high volatility of the cryptocurrency market. Hence, more traders are seeking ways to reduce their exposure to risk, and the USDC-USDT perpetual contract may prove to be a potential solution.

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