The stablecoin supply started to rise again after being stable for a while.
In the first half of this year, the stablecoin supply increased significantly as the crypto market rose.
USDT and derivative stablecoins started at around 29 billion in 2021 and reached 104.4 billion in May, an increase of 260%.
In October, it increased by just over 3 billion and started November at 129.69 billion. The value, which was 136.24 billion on November 10, increased by about 6.55 billion in just 10 days.
Galaxy Digital Research tweeted yesterday that stablecoin supplies have increased by 5% this month and are growing at the fastest rate since June, despite calls for greater regulation of digital dollars.
Stablecoin supplies are up 5% this month, and growing at the fastest rate since June, despite calls for more regulation of these digital dollars. pic.twitter.com/2bX0F5YQnr
— Galaxy Digital Research (@glxyresearch) November 12, 2021
This appears to be in line with the Bitcoin price rally that only pumped in the fourth quarter after consolidation in the third quarter.
The flagship, which reached an all-time high of $ 69,000 on Thursday, went down to $ 62,300 after the Evengrade news on Friday.