Stablecoin supply up 3.5% in past 30 days
A researcher and data analyst at CryptoSlate, the growth trend in stablecoin supply that began in Q4 2023 has continued into 2024, with the total supply of stablecoins in the cryptocurrency market increasing by about 3.5% over the past 30 days. The stablecoin supply ratio (SSR) has dropped from 4.13 in late October last year to the 0.74 range, indicating that stablecoins have more purchasing power to buy BTC. In contrast, the supply of Bitcoin is experiencing dynamic fluctuations due to the launch of spot Bitcoin ETFs, and wider institutional flows are increasing on-chain transaction volume.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Could Benefit from Rising Inflation: Grayscale
Grayscale says Bitcoin, like gold in the 1970s, may thrive amid inflation due to its scarcity and market maturity.A Strengthening Market StructureU.S. Policy Shifts Could Be a Game-Changer
Vitalik Buterin Unveils Plan to Elevate Privacy on Ethereum
XRP Could Hit $12,50 by 2028, Standard Chartered Predicts
Vitalik Buterin Outlines Simplified Privacy Roadmap for Ethereum
Ethereum co-founder Vitalik Buterin has proposed a new strategy to enhance user privacy on the Ethereum network without significant changes to its core infrastructure.
Trending news
MoreCrypto prices
More
