CryptoSlate research and data analyst James Van Straten said stablecoin supply began to grow in the fourth quarter of 2023, and the trend has continued into 2024.
The current total stablecoin supply has increased by approximately 3.5% over the past 30 days, while the stablecoin supply ratio (SSR) has dropped to the 0.74 range from 4.13 at the end of October last year, indicating that stablecoins have more purchasing power to purchase BTC. In contrast, the current supply of Bitcoin is dynamic and institutional capital flows are increasing on-chain trading volume due to the launch of Bitcoin spot ETFs. (Cointelegraph)