Growing supply diminishes stablecoin Bitcoin buying power
The Stablecoin Supply Ratio (SSR) has grown notably this year, indicating a diminishing Bitcoin buying power for dollar-pegged coins.
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Exploring the significant shift in supply growth in the top 5 largest stablecoins by market cap.
The new ATH in long-term holder supply decreased their on-chain cost basis, reducing their average purchase price to $20,332.
Following a $250 million increase in TUSD supply, we explore the historical trend where such spikes have preceded Bitcoin price rallies.
A lack of meaningful change in LTH supply and little risk of capitulation reveals a stedfast confidence in Bitcoin in the face of recent market volatility.
Bitcoin's slump to $29,200 resulted in a net realized loss of more than $49.6 million.
Bitcoin miners have begun increasing their Bitcoin reserves at the end of July despite flat revenues, indicating a bullish market sentiment.