Tether, the largest stablecoin, has started to increase its circulating supply after a 3-month decline.
First supply increase by Tether after three-month hiatus, according to CoinmarketCap data on July 29 carried out. In the range from the end of July to August 2, in total 3 different supply increases more performing stablecoin Tether, $66 billion crypto market with total volume 3. during is located. The total volume of stablecoins currently exceeds the entire cryptocurrency market. 13%It corresponds to .
In the first week of last May 83 billion dollars Tether supply, which reached an all-time high (ATH) with 21% suffered a setback and withdrew to its current position.
According to commentators, the increase in Tether’s supply is an indicator of the upward appetite in the crypto money markets. About this topic recently Binance CEO CZhad similar statements:
There are 3 stablecoins in the top 10 of the crypto market. If people wanted to get out of cryptocurrencies, they wouldn’t hold stablecoins. All ready to return.
As one of the reasons stablecoins are “hodl” by investors global inflation is suggested. in the past months Argentina and EnglandAfter the political crises in Turkey, the local currencies of both countries are against stablecoins. depreciatedIt has been reported that the public is withdrawing their money to stablecoins to hedge against inflation.