Glassnode predicts BTC rally as stablecoin supply tags record highs

[sirty143]

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. The combined capitalization of Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI) has surged almost 190%... See more for yourself here.

Your opinion is greatly appreciated.

[jonathancool220]

I have predicted it because I am also sure that if the coin is stable it will definitely have an increase in volume because the price of BTC is also getting higher.
As with ordinary economic law, when the supply of goods is increasingly needed, more FIAT will be taken out of the wallet.
This effect is also felt in cryptocurrency, the higher the price of cryptocurrency, the more volume of bank coins in circulation.

[masudginanjar]

The dominance of this stable coin is truly extraordinary and I really like it because the bigger the market cap of the stable coin, the better it is for the cryptocurrency market.
Until now, I am really looking forward to this moment so that the Bitcoin price continues to rise and what supports this price is from stable coins like as USDT,USDC,BUSD,TUSD and PAXOS.

[Review Master]

Though market is manipulated by Elon Musk, but market will be more bullish as there is huge surging into the circulating supply of all top stablecoins. Also, more defi projects are giving high APYs for stablecoin pools which is great sign for the demand of stablecoins. Eventually, there will be more minting events for stablecoins as demand of it is growing day by day.