Total stablecoin supply fell by $14.2 billion over 30 days, the fastest contraction since June 2022.
According to Glassnode, the data is current through November 9; the report also noted that USDT was trading slightly below $1. This is a 30-day change in outstanding supply, not selling pressure on any single day. One interpretation is that there’s less capital on exchanges available to buy crypto; another is that holders are redeeming and exiting after deleveraging. Glassnode believes that a return to positive 30-day change would be the first sign of new capital entering the market.
What this means for you: First, distinguish between “supply has shrunk” and “someone is dumping today.” Price volatility risk remains, and this is not investment advice. If the 30-day change turns positive again, the contraction narrative will need to be revised; if the contraction deepens, that still shouldn’t be read directly as selling pressure on the day. Do you see this more as less capital available to buy, or as redemptions and exits?
#稳定币供应 #口径科普 $USDT
According to Glassnode, the data is current through November 9; the report also noted that USDT was trading slightly below $1. This is a 30-day change in outstanding supply, not selling pressure on any single day. One interpretation is that there’s less capital on exchanges available to buy crypto; another is that holders are redeeming and exiting after deleveraging. Glassnode believes that a return to positive 30-day change would be the first sign of new capital entering the market.
What this means for you: First, distinguish between “supply has shrunk” and “someone is dumping today.” Price volatility risk remains, and this is not investment advice. If the 30-day change turns positive again, the contraction narrative will need to be revised; if the contraction deepens, that still shouldn’t be read directly as selling pressure on the day. Do you see this more as less capital available to buy, or as redemptions and exits?
#稳定币供应 #口径科普 $USDT