"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.
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