I just took a look at the on-chain data, and one detail caught my eye—
USD Coin (USDC) burned around $0.14B over the past 24 hours, with a current circulating supply of $72.9B.
I’ve been watching this metric for a while. It tends to signal direction before price does. But don’t draw conclusions from a single indicator: capital flows are a slow-moving variable, so don’t expect a signal today to play out tomorrow.
#Stablecoins
USD Coin (USDC) burned around $0.14B over the past 24 hours, with a current circulating supply of $72.9B.
I’ve been watching this metric for a while. It tends to signal direction before price does. But don’t draw conclusions from a single indicator: capital flows are a slow-moving variable, so don’t expect a signal today to play out tomorrow.
#Stablecoins