OPEN-SOURCE SCRIPT
4 main Stablecoin MarketCap
This indicator summarized 4 main stablecoin marketcap (USDT, USDC , BUSD, DAI).
It is given that most of the transactions of cryptocurrencies are traded by stablecoins, and USDT, USDC , BUSD and DAI shared 90%+ of the stablecoins market capacity. Therefore, by summarizing these 4 main stablecoins total market capacity, can reflect the overall demand power.
When the indicator goes up, it is expected that the overall market demand will increase.
When the indicator goes down, it is expected that the cryptocurrencies market might be in a recession.
This indicator could be more useful in a longer timeframe, day-trade or even shorter might not be the suitable timeframe.
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V2 update
Separate 4 sectors and shadowed in different colors for 4 different stablecoins for more accurated view.
It is given that most of the transactions of cryptocurrencies are traded by stablecoins, and USDT, USDC , BUSD and DAI shared 90%+ of the stablecoins market capacity. Therefore, by summarizing these 4 main stablecoins total market capacity, can reflect the overall demand power.
When the indicator goes up, it is expected that the overall market demand will increase.
When the indicator goes down, it is expected that the cryptocurrencies market might be in a recession.
This indicator could be more useful in a longer timeframe, day-trade or even shorter might not be the suitable timeframe.
-----------------------------------------
V2 update
Separate 4 sectors and shadowed in different colors for 4 different stablecoins for more accurated view.
Script open-source
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