Summary
- IntoTheBlock reported that the continuous increase in stablecoin supply could be a signal of a bullish cryptocurrency market.
- Current stablecoin supply exceeds $219 billion, indicating that the market is likely still in the middle of a bullish cycle.
- Using the example of 2022 when the bearish market began after stablecoin supply reached $187 billion, they emphasized the correlation with supply.
As stablecoin supply continues to increase, there's a possibility that the cryptocurrency market is still in the middle of a bullish cycle.
On the 14th, cryptocurrency specialized media IntoTheBlock analyzed through X (formerly Twitter), "Historically, when stablecoin supply reaches its peak, it often coincides with the market cycle's highest point," adding that "Currently, stablecoin supply exceeds $219 billion and is still increasing. This suggests that the market is likely still in the middle of a bullish cycle."
IntoTheBlock also added, "In April 2022, shortly after stablecoin supply reached its peak of $187 billion, a bearish market began."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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