- The stablecoin market cap hit a 15-month high of $141 billion.
- USDC’s market cap growth outpaced USDT.
In what was a sign of a clear bullish sentiment, the global stablecoin value recovered to levels last seen before the onset of the crypto bear market.
The market capitalization of such cryptos, which mimic the stability of national currencies, hit a 15-month high of $141 billion at press time, AMBCrypto noticed using DeFiLlama data,
Source: DeFiLlama
Institutional investors driving demand?
An increase in stablecoin supply typically suggests increasing capital inflows into the crypto market.
This is because most traders from traditional markets would use stablecoins to enter and exit trades on crypto exchanges.
The approval of spot Bitcoin [BTC] ETFs spurred demand for cryptocurrencies, causing many TradFi giants to enter the crypto landscape.
Most of these institutional investors have been steadily increasing their stablecoin holdings since the approval.
Notably, whale wallets accounted for 54% of the total stablecoin supply at press time, up from 49% on the approval day, according to AMBCrypto’s analysis of Santiment data.
Source: Santiment
The total number of stablecoins on exchanges witnessed an uptick in the last week, as per AMBCrypto’s assessment of CryptoQuant data, a sign of increasing buying pressure.
Note that BTC rose 25% over the week. Hence, it was likely that investors moved stablecoins to exchanges to purchase the king coin.
Source: CryptoQuant
USDC surpasses USDT’s growth
Leading assets of the ecosystem exhibited strong growth since the beginning of the year, according to data from Glassnode.
The largest stablecoin Tether [USDT] added more than $7 billion to its market cap year-to-date (YTD), marking a growth rate of 8%.
Seen as the bellwether of the broader market, USDT was eyeing a $1 trillion market cap in the coming days.
Source: Glassnode
USDT’s growth was outpaced by USD Coin [USDC], the second-largest stablecoin, which grew more than 17% YTD.
This was a marked turnaround from 2023 during which the asset lost 45% of its market cap owing to the banking crisis of March.
- The stablecoin market cap hit a 15-month high of $141 billion.
- USDC’s market cap growth outpaced USDT.
In what was a sign of a clear bullish sentiment, the global stablecoin value recovered to levels last seen before the onset of the crypto bear market.
The market capitalization of such cryptos, which mimic the stability of national currencies, hit a 15-month high of $141 billion at press time, AMBCrypto noticed using DeFiLlama data,
Source: DeFiLlama
Institutional investors driving demand?
An increase in stablecoin supply typically suggests increasing capital inflows into the crypto market.
This is because most traders from traditional markets would use stablecoins to enter and exit trades on crypto exchanges.
The approval of spot Bitcoin [BTC] ETFs spurred demand for cryptocurrencies, causing many TradFi giants to enter the crypto landscape.
Most of these institutional investors have been steadily increasing their stablecoin holdings since the approval.
Notably, whale wallets accounted for 54% of the total stablecoin supply at press time, up from 49% on the approval day, according to AMBCrypto’s analysis of Santiment data.
Source: Santiment
The total number of stablecoins on exchanges witnessed an uptick in the last week, as per AMBCrypto’s assessment of CryptoQuant data, a sign of increasing buying pressure.
Note that BTC rose 25% over the week. Hence, it was likely that investors moved stablecoins to exchanges to purchase the king coin.
Source: CryptoQuant
USDC surpasses USDT’s growth
Leading assets of the ecosystem exhibited strong growth since the beginning of the year, according to data from Glassnode.
The largest stablecoin Tether [USDT] added more than $7 billion to its market cap year-to-date (YTD), marking a growth rate of 8%.
Seen as the bellwether of the broader market, USDT was eyeing a $1 trillion market cap in the coming days.
Source: Glassnode
USDT’s growth was outpaced by USD Coin [USDC], the second-largest stablecoin, which grew more than 17% YTD.
This was a marked turnaround from 2023 during which the asset lost 45% of its market cap owing to the banking crisis of March.
can you get clomid prices can you get generic clomid without rx where can i get clomid without prescription cost of cheap clomid without insurance buying generic clomid without prescription can you buy clomiphene online can you buy generic clomiphene pills
Palatable blog you have here.. It’s severely to on high worth belles-lettres like yours these days. I really appreciate individuals like you! Withstand mindfulness!!
The reconditeness in this ruined is exceptional.
zithromax without prescription – where can i buy zithromax metronidazole 200mg generic
buy semaglutide paypal – buy cyproheptadine pills for sale cheap cyproheptadine
purchase motilium online – order flexeril 15mg generic buy cyclobenzaprine without prescription
order generic augmentin 625mg – atbioinfo ampicillin price
purchase esomeprazole capsules – https://anexamate.com/ esomeprazole for sale online
coumadin 5mg canada – https://coumamide.com/ order losartan 25mg online cheap
purchase deltasone generic – allergic reactions order prednisone 40mg pill
best ed pills online – site where to buy over the counter ed pills
cheap amoxicillin sale – purchase amoxil sale amoxicillin cost
purchase diflucan online cheap – https://gpdifluca.com/# buy diflucan paypal
order cenforce 100mg generic – https://cenforcers.com/# buy generic cenforce over the counter
what doe cialis look like – https://strongtadafl.com/ cialis online no prescription
cheap zantac 150mg – aranitidine cheap zantac
buy generic viagra online – viagra for cheap online 100 mg viagra pills
The depth in this piece is exceptional. site
This is the gentle of literature I positively appreciate. gabapentin 100mg for sale
Greetings! Very gainful suggestion within this article! It’s the petty changes which wish espy the largest changes. Thanks a portion in the direction of sharing! https://prohnrg.com/product/priligy-dapoxetine-pills/
More posts like this would make the online time more useful. prednisolone 20 mg dose poids
This website really has all of the tidings and facts I needed there this case and didn’t comprehend who to ask. https://ondactone.com/simvastatin/
Greetings! Extremely useful advice within this article! It’s the crumb changes which wish espy the largest changes. Thanks a portion in the direction of sharing!
https://proisotrepl.com/product/baclofen/
With thanks. Loads of conception! http://zqykj.com/bbs/home.php?mod=space&uid=302508
forxiga brand – https://janozin.com/ order forxiga generic