Matrixport: The issuance of stablecoins supports cryptocurrency prices, and shorting ETH is a good choice to hedge long positions in BTC

ChainCatcher message, Matrixport posted on social media that Tether's minting activity shows an increase in the flow of fiat to cryptocurrency, which continues to support cryptocurrency prices. In the past 7 days, Tether's circulation increased by $2 billion, with the issuance rate even faster than at the beginning of January.

In addition, Matrixport stated that it had previously criticized Ethereum's upgrade policy when analyzing the impact of each upgrade on ETH prices. With the completion of the Dencun upgrade, Ethereum's market share dropped from 19% to 16%. The institution suggests using an ETH short strategy as a hedge against a BTC long strategy.