The net increase in stablecoin supply data was an indicator of the asset inflow in the cryptocurrency sector.
In parallel with the rise in the cryptocurrency market in recent weeks stablecoin in your supply A significant increase was also observed. On-chain analysis platform Glassnode increasing stablecoin supply He interpreted it as a net capital inflow to the entire cryptocurrency sector.
According to data, total stablecoin supply last 1 month in 1 billion increase showed. The leading stablecoin during the increase is Tether (USDT) happened. Especially 16 October on spot Bitcoin (BTC) ETF After the fake news shared that it was approved, the increase in stablecoin supply accelerated.
Making a statement on the subject, Glassnode analysts said that stablecoin flow is primarily to Bitcoin He emphasized that it flows:
We are currently seeing a breakout above Glassnode’s Subseasonal indicator. This shows that three assets, Bitcoin, Ethereum and stabelcoins, are recording volumetric increases. Bitcoin leads the way in net inflows, and stablecoins have experienced net outflows until very recently.
Total stablecoin supply according to data provided by The Block $121.6 billion It is located at the level. This 83.85 billion USDT constitutes the dollar part.