Crypto Market Rally Bets Fade as Stablecoin Supply Falls $14.2 Billion

Crypto Market Rally Bets Fade as Stablecoin Supply Falls $14.2 Billion

Crypto markets were left with “less fuel” to rally after the market cap of major stablecoins saw its biggest 30-day drop in over four years.

Stablecoin Supply Drops $14.2B in Largest 30-Day Decline Since June 2022

Stablecoins are pulling back again, with total supply shrinking by $14.2 billion over the past 30 days—the largest 30-day contraction since June 2022, according to Glassnode. At the same time, broader demand signals for Bitcoin remain muted. The Coinbase Premium Index—which compares Bitcoin pricing on Coinbase versus Binance—has stayed negative after reaching its lowest level [...]

Stablecoin Supply Falls $14.2 Billion Amid Bitcoin ETF Outflows

Total stablecoin supply fell by $14.2 billion over 30 days, the fastest drop since June 2022, while U.S. spot Bitcoin ETFs recorded $1.6 billion in net redemptions. Read the original on Stablecoin supply drops $14.2 billion amid Bitcoin ETF outflows. For more crypto news and analysis, visit TheCurrencyAnalytics.com.

Glassnode reports $14.2 billion stablecoin drop, $1.6 billion Bitcoin ETF outflow

🚨 Glassnode tracked $14.2 billion drop in stablecoin supply as $BTC ETF outflows reached $1.6 billion. 📉 Only 35% of short-term-holder coins remained profitable, with key wallet cohorts still accumulating. 🔍 September’s gains faded amid rapid liquidity shifts and new stablecoin regulations in progress. Continue Reading:Glassnode reports $14.2 billion stablecoin drop, $1.6 billion Bitcoin ETF outflow