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10 May 2021

Glassnode predicts BTC rally as stablecoin supply tags record highs

Glassnode predicts BTC rally as stablecoin supply tags record highs


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The circulating supply of the four-largest stablecoins has spiked to new all-time highs, suggesting buyers could soon spark another leg up for the Bitcoin and crypto markets.

With the surging supply, Glassnode highlights that Bitcoin’s Stablecoin Supply Ratio (SSR), which measures the Bitcoin supply divided by the stablecoin supply, is sitting at a year-to-date low of 13.4, and is approaching its all-time-low of 9.6.

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cointelegraph.com
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