News

Foresight News reported, according to DefiLlama data, the TVL on Mantle has surpassed 1 billion USD, with the current stablecoin market cap at 986 million USD, and 24-hour DEX trading volume at 2.03 million USD.

According to Odaily, 10x Research posted an analysis on X, pointing out that since a certain exchange was identified by analysts as potentially experiencing a short squeeze ahead of its February 20 earnings report, its stock price has surged by over 80% in less than three weeks. Although some hedge funds had already started to reduce their positions before the catalyst event (previously, shorts accounted for 17.8% of the outstanding shares), they may have suffered a paper loss of around 1 billion USD during the stock's sharp rally. 10x Research suggests that investors should pay attention to the scale of hedge fund short positions across the entire crypto stock sector to identify the next potential trading opportunity, as short covering provides strong upward momentum for crypto-related stocks, allowing them to outperform bitcoin. While the explosive power may not be as strong as the previous rally of a certain exchange, the risk-reward ratio remains attractive and comes with inherent downside protection, making it suitable for the current market environment.

According to Odaily, Bernstein analysts reiterated their bullish outlook on stablecoin issuer Circle in a report released on Tuesday, maintaining an “outperform” rating with a target price of $190, which implies about 70% upside from Monday’s closing price. The analysts believe that stablecoins are increasingly decoupled from the broader cryptocurrency market cycle, and that stablecoin adoption has remained resilient even during periods of crypto market volatility. Although the supply of USDC briefly declined following liquidity events in October and an overall market adjustment, it has since rebounded to a circulation of approximately $78 billion, reaching a new high, while bitcoin’s trading price remains well below its previous peak. Meanwhile, Tether’s USDT supply stands at around $184 billion. (The Block)