Summary
- The total supply of stablecoins on Binance Smart Chain (BSC) reportedly surpassed $13.93 billion, reaching a record high.
- It said this figure surpasses the $13.85 billion recorded during the May 2022 bull market.
- The increase in stablecoin supply suggests a complete recovery of the BSC ecosystem, a recovery in investor sentiment, and new liquidity inflows, it said.
The total supply of stablecoins on Binance Smart Chain (BSC) has surpassed $13.93 billion, reaching a record high.
On the 13th (local time), CryptoOnChain, a CryptoQuant contributor, wrote in a report, "The stablecoin supply on Binance Smart Chain has reached a record high," adding, "This exceeds the $13.85 billion recorded during the May 2022 bull market, and indicates a full recovery of the BSC ecosystem and a recovery in investor sentiment."
The increase in stablecoin supply directly implies a new inflow of liquidity into the network, and indicates that funds which flowed out during the prolonged downturn are returning to the ecosystem.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
