"In the past month, Ethereum-based stablecoin supply increased by about ₩23 trillion"
Minseung Kang
Summary
- The supply of stablecoins on the Ethereum network increased by about ₩23 trillion over the past month.
- An increase in stablecoin supply is generally interpreted as a signal of rising capital inflows into the cryptocurrency market.
- The data was cited from market data analytics firm Artemis.
The supply of stablecoins issued on the Ethereum (ETH) network increased by $16.4 billion (approximately ₩22.796 trillion) over the past month.
On the 16th, cryptocurrency-focused media BlockBeats, citing data from market data analytics firm Artemis, reported that "the supply of stablecoins issued on the Ethereum (ETH) network increased by a total of $16.4 billion over the past month."
An increase in circulating supply of stablecoins typically signifies a rise in capital inflow into the cryptocurrency market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![XRP investors face mounting pressure with '60% in the red'…altcoin market stirs as Bitcoin rebounds [Kang Min-seung’s Altcoin Now]](https://media.bloomingbit.io/PROD/news/b2449b97-0c96-4b26-81d4-a706a3d01ea5.webp?w=250)
![Bitcoin on alert for Middle East-driven 'oil price variable'…Ethereum holds $2,000; XRP flashes rebound signal [Lee Soo-hyun’s Coin Radar]](https://media.bloomingbit.io/PROD/news/e4b1a9f1-23e3-47f4-ba17-1f4a1a565fd6.webp?w=250)