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

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 [...]

Bitcoin Traded Below Short-Term Holder Cost Basis Amid Stablecoin Contraction

Stablecoin supply fell $14.2 billion in 30 days through Nov. 9, while U.S. spot Bitcoin ETFs saw $1.6 billion in net outflows over 20 sessions.

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

Bitcoin’s recovery faces new threat as $14.2 billion in stablecoin supply disappears in one month

Bitcoin has another problem on its hands: $14.2 billion in stablecoins has left circulation in just 30 days, according to a Wednesday report from Glassnode. It’s the steepest monthly withdrawal since 2022, just as buyers struggle to stop the slide. Stablecoins are the money traders usually park inside crypto before placing their next bet. When their supply shrinks, some of that money has been cashed out rather than recycled into coins. Tether tr…