{"id":80337,"date":"2023-11-03T14:50:37","date_gmt":"2023-11-03T18:50:37","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/analysts-observe-rising-stablecoin-supply-indicating-capital-inflow\/"},"modified":"2023-11-03T14:50:41","modified_gmt":"2023-11-03T18:50:41","slug":"analysts-observe-rising-stablecoin-supply-indicating-capital-inflow","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80337","title":{"rendered":"Analysts Observe Rising Stablecoin Supply, Indicating Capital Inflow"},"content":{"rendered":"<div>\n<figure id=\"attachment_127166\" aria-describedby=\"caption-attachment-127166\" style=\"width: 1280px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-127166\" class=\"wp-caption-text\">Source: iQoncept \/ Adobe<\/figcaption><\/figure>\n<p>The total supply of stablecoins has surged in recent weeks, coinciding with a significant rally in the price of Bitcoin (BTC), on-chain data shows.<\/p>\n<p>The growth in stablecoin supply has followed an extended surge in the broader crypto market that started after a false report on October 16 said a spot Bitcoin exchange-traded fund (ETF) had been approved in the US.<\/p>\n<p>Around the same period, on-chain data revealed a substantial rise in the supply of stablecoins, with a significant portion being minted in the form of Tether (USDT).<\/p>\n<p>According to on-chain analytics firm Glassnode, the surge in the total stablecoin supply is a strong indicator of net capital inflow into crypto.<\/p>\n<p>In its latest The Week On-chain report, Glassnode highlighted this, saying that stablecoins typically reflect investors\u2019 \u201cdemand for speculative capital.<\/p>\n<p><noscript><iframe loading=\"lazy\" title=\"Bitcoin Dominance Season - The Digital Asset Capital Waterfall  - The Week On-chain 44, 2023\" width=\"880\" height=\"495\" src=\"https:\/\/www.youtube.com\/embed\/3pf-EaV3JS0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/noscript><\/p>\n<p>The data also revealed a breakthrough above Glassnode\u2019s Altseason Indicator, illustrating upward trends in three key assets: BTC, Ether (ETH), and the combined stablecoin market.<\/p>\n<p>According to the report, Bitcoin is leading the way in net capital inflow, and, until just recently, stablecoins had experienced net outflows.<\/p>\n<p>At present, however, both BTC, ETH and stablecoins are in positive territory, showing overall increases as measured in US dollars and reflecting a growing interest in crypto among investors.\n<\/p>\n<h2>Bitcoin outperforming<\/h2>\n<p>\nMeanwhile, the report also noted that most altcoins have underperformed Bitcoin by a significant margin this year, leading to a continued rise in the Bitcoin dominance.<\/p>\n<p>This was also pointed to by Glassnode in an X post where it said BTC has outperformed altcoins by 300% in 2023:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We explore these dynamics through the lens of price performance, drawdown magnitude, and indicators of capital rotation.<\/p>\n<p>What we find is that whilst the altcoin sector is outperforming many fiat currencies, <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> is outperforming altcoins by 300% in 2023.https:\/\/t.co\/Tt8EoJ5WS6<\/p>\n<p>\u2014 glassnode (@glassnode) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/glassnode\/status\/1719719857019556193?ref_src=twsrc%5Etfw\">November 1, 2023<\/a><\/p>\n<\/blockquote>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/analysts-observe-rising-stablecoin-supply-indicating-capital-inflow.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: iQoncept \/ Adobe The total supply of stablecoins has surged in recent weeks, coinciding with a significant rally in the price of Bitcoin (BTC), on-chain data shows. The growth in stablecoin supply has followed an extended surge in the broader crypto market that started after a false report on October 16 said a spot [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":80338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-80337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analysts Observe Rising Stablecoin Supply, Indicating Capital Inflow | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: iQoncept \/ Adobe The total supply of stablecoins has surged in recent weeks, coinciding with a significant rally in the price of Bitcoin (BTC),\" \/>\n<meta name=\"robots\" content=\"index, follow, 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