$USDT and $USDC are still the two biggest dollar tokens, and the whole stablecoin pile just shrank 14.2 billion dollars in 30 days.
That's the fastest drop since June 2022, per Glassnode. These are the dollars traders hold on exchanges and on-chain before they buy.
Holders are redeeming those tokens back into dollars and taking the cash out of crypto. Less of it is sitting around to buy a bounce.
The first sign of new money would be this number turning back up.
#Stablecoins #CryptoMarket
NFA. DYOR.
That's the fastest drop since June 2022, per Glassnode. These are the dollars traders hold on exchanges and on-chain before they buy.
Holders are redeeming those tokens back into dollars and taking the cash out of crypto. Less of it is sitting around to buy a bounce.
The first sign of new money would be this number turning back up.
#Stablecoins #CryptoMarket
NFA. DYOR.
