Are the stablecoins retracting, signaling the arrival of a risk-on market?

Here is a chart to see:

1. Which new projects are increasing in popularity since crypto market peaked?

It is determined by crypto-assets' daily average new addresses creation since Nov 2021 (where Bitcoin peaked) till this day.

2. Are the more established crypto-projects continuing to gain traction?

3. Blow-off top/bottom that has the potential of leading a reversal in market price trend.

- 'arbdoge-ai' has ranked into the list, while 'multi-collateral-dai' has ranked out from the previous ranking.

- 'usd-coin' has moved from rank 4 to rank 8, a shift of 4 spots from the previous ranking.

rank
1~5 $USDT $ETH $MATIC $BUSD $ARB
6~10 $CAKE $BTC $USDC $SHIB $XRP
11~15 $PEPE $OP $BabyDoge $LINK $ID
16~20 $STG $ADA $BLUR $FLOKI $AIDOGE

*MVRV (Market Value to Realized Value) ratio gives an idea of how much overvalued or undervalued an asset is.

- not financial advice -