Summary
- The supply of stablecoins on the Binance exchange was reported to have reached a record high of $42 billion.
- It analyzed that over the past two months, the supply of ERC-20 stablecoins on Binance increased from $32 billion to $42 billion.
- It stated that investors are using stablecoins to inject capital into the market, and that trading activity on Binance is active.
The supply of stablecoins (crypto assets pegged to fiat currency) on the Binance exchange, which serves as a liquidity indicator for the crypto market, has reached an all-time high.
On the 13th (Korean time), CryptoQuant contributor Dark Post analyzed in a report that "over the past two months, the supply of ERC-20 stablecoins on Binance increased from $32 billion to $42 billion."
The contributor explained, "This means investors are using stablecoins to inject capital into the market and that trading activity on Binance is active," adding, "Investors' capital injections have continued even during recent periods of increased volatility."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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