Stablecoins just lost about $17B of market cap in six months.
Total supply is now near $263B (Odaily).
Binance holds roughly 70% of CEX stablecoin supply.
Meanwhile Binance saw about $1.6B net inflow over 24h after the earlier outflow spike.
My take: shrinking stablecoin supply means less dry powder waiting on the sidelines. Rallies get harder to fund unless it turns around. Watch whether $USDT and $USDC supply stabilizes this month.
Is the stablecoin shrink a bearish signal or just post-hack cleanup?
#Stablecoins #USDT #CryptoMarket
Total supply is now near $263B (Odaily).
Binance holds roughly 70% of CEX stablecoin supply.
Meanwhile Binance saw about $1.6B net inflow over 24h after the earlier outflow spike.
My take: shrinking stablecoin supply means less dry powder waiting on the sidelines. Rallies get harder to fund unless it turns around. Watch whether $USDT and $USDC supply stabilizes this month.
Is the stablecoin shrink a bearish signal or just post-hack cleanup?
#Stablecoins #USDT #CryptoMarket