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Stablecoins at $219B and climbing – Why the market isn’t topping out yet
In a recent development, the stablecoin supply has surpassed its previous high of $187 billion in April 2022. This unprecedented growth, currently standing at $219 billion, suggests that we are still in the midst of a mid-cycle phase rather than nearing a peak.
Historically, it has been observed that the rise and fall in stablecoin supply have a direct correlation with market cycles. The data revealed by IntoTheBlock highlights this trend, where peaks in stablecoin supply have consistently coincided with investor activity reaching its zenith before a potential downturn.
As of now, the upward trajectory of the supply is far from slowing down. With no signs of a plateau or decline, it appears that liquidity continues to flow into the crypto market, further reinforcing the notion that we are still within this mid-cycle phase.
Source: https://ambcrypto.com/stablecoins-at-219b-and-climbing-why-the-market-isnt-topping-out-yet/
