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Stablecoin Issuance Continues to Rise as Crypto Enthusiasm Grows

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The issuance of stablecoins, particularly USDT and USDC, has seen a significant increase in March, indicating growing interest from European and American investors. This surge in stablecoin balances occurred just before Bitcoin reached its all-time high.

) issuance continues to increase, reflecting a further rise in enthusiasm for crypto assets from European and American investors. While Binance USD, True USD and PayPal USD all saw declines in issuance, the two largest stablecoins by market capitalization have continued to flow into the market.“The issuance of USDT increased by 5.825 billion in March, and USDC issuance increased by 3.803 billion, showing a significant increase compared to the previous month.

Additional data from CryptoQuant reveals that while stablecoin balances on crypto exchanges increased over the last few days, the number of transactions depositing stablecoins to exchanges also grew over the same period.In the meantime, the total stablecoin market capitalization grew by 2.8% from $150.42 billion on April 1 to $154.7 billion at the time of publication, according to data from DefiLlama. USDT accounts for more than 69.1% of this value, with a market cap of $107.3 billion.

According to Quinlivan, the longest bull runs over the last 15 years have often occurred when there is little to no correlation between Bitcoin’s price and the S&P 500.

 

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