Top stablecoins declined in market capitalization by over 21% compared to the same period in 2022. However, an increasing Stablecoin Supply Ratio (SSR) could indicate a bullish signal for Bitcoin. While stablecoins were designed to maintain a stable value, recent months have demonstrated that they are not impervious to the volatile swings in the cryptocurrency […]
also faced some FUD after the collapse of Silicon Valley Bank and the exposure of Circle to over $3 billion, which sparked concerns about the stability of the coin.
The regulatory issues and resulting FUD surrounding stablecoins have caused them to de-peg over time, although they have reclaimed their pegs. However, the reserve of BUSD has continued to decline due to the uncertainty surrounding its regulatory status. These events, combined with other factors, have contributed to reducing the market capitalization of stablecoins.declined, data from CryptoQuant indicated that the Stable Coin Supply Ratio has been on the rise. As of the time of writing, the SSR was approximately 7.6, an improvement from around four earlier in March.An increase in the Stablecoin Supply Ratio could suggest a potential bullish signal for Bitcoin . It indicates a rise in capital available to flow from stablecoins into BTC.
As of this writing, Bitcoin was trading at approximately $28,490, representing a loss of less than 1%. Furthermore, the long and short moving averages were trending below the press time price movement.Subscribe to get it daily in your inbox.
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